Answer to Question #138434 in Macroeconomics for Bianca

Question

How does exports and imports can benefit a company like Volkswagen in relation to resources, skills, capital,job creation and production line?

Answer 1

A company like Volkswagen can benefit immensely from exports and imports. When such a company imports goods from various countries brings new products to such a company which would help in manufacturing their products. Some raw materials might not be present in the country and therefore importing could be the best option. Exporting their products could simply help make profits. Volkswagen can also benefit from importing skills from various countries with the necessary skills. They can utilize such an opportunity to train their employees to gain such skills. They can as well improve their production line by getting new ideas by importing new skills and raw materials from other countries. In terms of job creation, Volkswagen can create more jobs by employing skilled people from various countries. The country in this case can benefit both the company and employees