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An example is a country that imports all of its oils.

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From the options to this question, the best answer is a country that imports all of its oils.

Importance of Oil in economy

  • Can be used to make fuel which powers vehicles and other important technology.
  • Is a source of energy that can be converted in several substances.

With the way the world is currently set up, oil is very important to the economy of a nation so a country that has to import all of its oil needs, is very dependent on other countries as oil is a critical good.

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