Which term refers to the type of buying and selling that takes place within a country?
free trade
international trade
productivity
domestic trade
domestic trade
Why do countries trade goods and services?
because they want to reduce interdependence
because they do not have all the goods and resources they need
because they want to help other countries grow
because they want to protect domestic industries from competition
Countries trade goods and services for various reasons, including economic efficiency, to access goods and resources that they do not have domestically, to benefit from specialization and comparative advantage, and to promote interdependence and cooperation among nations. Trading allows countries to obtain goods and services at a lower cost or of higher quality than they could produce themselves. It also enables countries to expand their markets and increase their economic growth and prosperity. While protecting domestic industries can sometimes be a factor, the overall goal of international trade is typically to benefit the participating countries mutually.
so what is the answer
The answer is that countries trade goods and services because they do not have all the goods and resources they need domestically.
Which of the following is a way to increase economic development?
raising taxes
investing in education
limiting trade
lowering wages
Investing in education is a way to increase economic development.
Which of the following are examples of trade barriers? Select the three correct answers.
advantages
tariffs
embargoes
quotas
comparatives
The three correct examples of trade barriers are tariffs, embargoes, and quotas.
Which of the following geographic features would most likely have a negative impact on the trade of a country?
rivers
irregular coastline
plains
mountains