The Solomon Islands in Oceania export fish, timber, and copra to Australia, Japan, and the United Kingdom. In return, Australia, Japan, and the United Kingdom export food, fuel, and machinery to the Solomon Islands. Which economic term best describes the relationship between these countries? *
A. entrepreneurial
B. specialized
C. in competition
D. economic interdependence***
Right.
its d
interdependent
right?
The correct answer is D. economic interdependence.
To arrive at this answer, we need to understand the meaning of each economic term and analyze the relationship described in the question.
A. Entrepreneurial refers to the acts of organizing, managing, and taking on the risks of a business or enterprise. It does not describe the relationship between the countries.
B. Specialized refers to a situation where individuals, businesses, or countries focus on producing a particular good or service. While there are specialized exports in the given scenario (e.g., fish, timber, copra), it does not fully capture the relationship between the countries.
C. In competition implies that the countries are engaged in a competitive relationship where their exports are competing in the same markets. However, the question describes a scenario where each country exports different goods and imports different goods, indicating a more cooperative relationship rather than competition.
D. Economic interdependence refers to a situation where countries rely on each other for economic resources and trade. In this case, the Solomon Islands export fish, timber, and copra to Australia, Japan, and the United Kingdom, while these countries export food, fuel, and machinery to the Solomon Islands. This reciprocal trading relationship illustrates economic interdependence, where each country depends on the others for goods they do not produce domestically.
Therefore, the economic term that best describes the relationship between these countries is D. economic interdependence.