1)International trade is the exchange of goods and services between countries. Such as China selling potassium to England.
2) 1. lower prices
2) 1. lower prices
2. greater choice
3. Differences in resources- some countries need the natural resources to make goods or for survival
4. economies of scale- when there is international trade there is a larger market thuse level of prod. will increase
5. increased competition- leads to greater efficiency
6. More efficient allocation of resources
7. source of foreign exchange
No comments:
Post a Comment