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Questions and Answers
What are the factors that influence trade between two or more states?
What are the factors that influence trade between two or more states?
- History, traditions, customs, beliefs, and social structure
- Geographical location, natural resources, transportation, technology, and education
- Language, population, climate, religion, and culture
- Currency, government policies, economy, judicial system, laws, and markets (correct)
What is the significance of international trade in most countries?
What is the significance of international trade in most countries?
- It has no significant impact on the gross domestic product (GDP)
- It represents a significant share of gross domestic product (GDP) (correct)
- It leads to a decrease in gross domestic product (GDP)
- It only affects the government's revenue
What is the purpose of international economic organizations like the World Trade Organization?
What is the purpose of international economic organizations like the World Trade Organization?
- To control and restrict international trade
- To ease and justify the process of trade between countries of different economic standing (correct)
- To promote domestic trade over international trade
- To establish a global currency for trade
Why is carrying out trade at an international level considered a complex process?
Why is carrying out trade at an international level considered a complex process?
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What has been the trend of the economic, social, and political importance of international trade in recent centuries?
What has been the trend of the economic, social, and political importance of international trade in recent centuries?
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