How are the domestic sellers and buyers of a good affected if a ...

[fox]

How are the domestic sellers and buyers of a good affected if a country starts importing the good?
 
  What will be an ideal response?

Question 2

Because warranties are potentially ________, low-quality goods are ________ to have warranties.
 
  A) very expensive; less likely
  B) inexpensive; less likely
  C) very expensive; more likely
  D) inexpensive; more likely

[voltaire123]

Answer to Question 1

If a country starts importing the good, buyers can buy the good at a lower price than the domestic price. Therefore, buyers gain. On the other hand, sellers face competition because of a lower world price, which reduces the quantity they can sell. Therefore, sellers lose.

Answer to Question 2

A