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Questions and Answers
What represents a significant share of gross domestic product (GDP) in most countries?
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?
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?
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?
Which international economic organization was formed to ease and justify the process of trade between countries of different economic standing?
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What makes carrying out trade at an international level more complex compared to domestic trade?
What makes carrying out trade at an international level more complex compared to domestic trade?
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