Questions and Answers
Which ancient civilizations engaged in long-distance commerce to acquire rare resources and expand their influence?
China and India
What are some benefits of international trade?
Increased specialization and higher living standards
What are some challenges that trade can face?
Increased protectionism and geopolitical tensions
Study Notes
Ancient Civilizations and Long-Distance Commerce
- Ancient civilizations such as Phoenicians, Greeks, and Romans engaged in long-distance commerce to acquire rare resources and expand their influence.
Benefits of International Trade
- Increased economic growth and development through access to a wider market and new customers.
- Improved productivity and competitiveness due to specialization and division of labor.
- Greater variety of goods and services available for consumers.
- Enhanced cultural exchange and understanding between nations.
Challenges of International Trade
- Trade barriers and tariffs imposed by governments to restrict imports.
- Transportation costs and logistics challenges in moving goods across long distances.
- Cultural and language barriers hindering communication and trade negotiations.
- Risk of trade wars and protectionism, which can lead to economic instability.
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