International Trade
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Factors like currency, government policies, economy, judicial system, laws, and markets influence trade</p> Signup and view all the answers

    What has been the trend of the economic, social, and political importance of international trade in recent centuries?

    <p>It has been on the rise</p> Signup and view all the answers

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