Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the significance of international trade in most countries?
What is the significance of international trade in most countries?
- It is the main source of employment
- It represents a significant share of gross domestic product (GDP) (correct)
- It has no significant impact on gross domestic product (GDP)
- It is the main source of government revenue
Which of the following best describes international trade?
Which of the following best describes international trade?
- The exchange of capital, goods, and services within a single country
- The exchange of goods and services within a single country
- The exchange of capital, goods, and services across international borders or territories (correct)
- The exchange of goods and services across international borders or territories
What factors influence trade between two or more states?
What factors influence trade between two or more states?
- Currency, government policies, economy, judicial system, laws, and markets (correct)
- Technology, infrastructure, education, healthcare, and social welfare
- Climate, geography, population, culture, and religion
- Political stability, military power, diplomatic relations, and natural resources
Why is international trade more complex than domestic trade?
Why is international trade more complex than domestic trade?
Signup and view all the answers
What are some international economic organizations formed to facilitate trade between countries?
What are some international economic organizations formed to facilitate trade between countries?
Signup and view all the answers
