The United States has an economy that relies on the trade of goods and services, not only domestically, but internationally. This is called an open economy. Some of the main components of an open economy imports and exports. Exports allow us to sell our technologies, goods, and services to other countries, while imports allow us to purchase technologies, goods, and services we are unable to obtain or produce in the United States. A pro of an open economy is that there is a greater amount competition. Which means there are more companies selling their goods or service and because of the increase amount of competition, companies have to compete with their price points. Consumers are the biggest beneficiaries of this competition because they