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International Trade

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Questions and Answers

What represents a significant share of gross domestic product (GDP) in most countries?

Agricultural production

Manufacturing sector

International trade (correct)

Domestic trade

What are the main components involved in international trade?

Money, products, and resources

Imports, exports, and tariffs

Capital, goods, and services (correct)

Goods, services, and labor

What are some factors that influence trade between two or more states?

Currency, government policies, economy (correct)

Historical events, cultural traditions, social norms

Geographical location, population size, natural resources

Religion, language, climate

Which international economic organization was formed to ease and justify the process of trade between countries of different economic standing?

<p>World Trade Organization</p> Signup and view all the answers

What makes carrying out trade at an international level more complex compared to domestic trade?

<p>Influence of currency, government policies, economy</p> Signup and view all the answers

International Trade

Choose a study mode

Podcast

Questions and Answers

What represents a significant share of gross domestic product (GDP) in most countries?

What are the main components involved in international trade?

What are some factors that influence trade between two or more states?

Which international economic organization was formed to ease and justify the process of trade between countries of different economic standing?

What makes carrying out trade at an international level more complex compared to domestic trade?

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