Journal Article

Expanding variety of goods underscores battle for competitive advantage

Abstract: The variety of goods imported to the U.S. has dramatically increased in the past two decades. This growth reflects a widening circle of nations delivering the same goods to this country. In some cases, the U.S. makes its own version of these products--such as Hershey's chocolate, which is consumed within the U.S. and exported. At the same time, a growing number of competing brands originating from numerous other countries are sold here. ; Such increasing variety of trade has been characteristic of many goods. Analyzing this type of commercial activity helps explain how countries and firms gain a competitive advantage, how they organize their production internationally and how quickly they can expand into new product lines.

Keywords: International trade; Imports; Productivity; Consumer behavior;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Economic Letter

Publication Date: 2010

Volume: 5

Order Number: 15