Question

Shortly after graduating college, Roberto took his place in his family's company in Miami. Roberto's father and uncle started a company that buys bauxite, copper, and other minerals from Chile, and brings them into the U.S. Every day, Roberto brokers trades with mines in Chile. The company is in the export business.
True / False.

Answer 1

Answer: False.

Explanation: Roberto took over operation of his family business in Miami in the US, the company buys minerals like copper and bauxite from Chile and brings it to the US.

This is importation, the company business is importation of minerals from Chile.

Exportation involves taking goods from your country where the business reside to another country to sell. While importation involves bringing goods from another country to a country where your business reside to sell or to process it.