econ220db4 - Fall 2011...

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<name removed to preserve anonymity> Fall, 2011 Econ220 DB4 AIU Online Krugan & Wells define importing as goods or services purchased from other countries. Walmart is a perfect example of an importer, as a majority of the goods they sell are imported from other countries and sold in their retail stores. In a 2004 interview with Time magazine, the CEO of Walmart at the time, H. Scott Lee, advised that their best selling item was banana's. Walmart imports the largest share of their banana's from South America. Exporting goods is defined as "goods or services sold to other countries" (Krugan, Wells, 2009). Sikorsky Aircraft Corp. is a prime example of an exporter, as they are the worlds foremost leader in helicopter production and are U.S. based. They are the creator and manufacturer of the famed U.S. Military Blackhawk Helicopter. There are a number of nations around the globe that place multi-billion dollar orders annually with Sikorsky to produce this Helicopter for them.
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