Which term refers to the type of buying and selling that takes place within a country?
The term that refers to the type of buying and selling that takes place within a country is domestic trade.
Why do countries trade goods and services?
(1 point)
Responses
because they want to reduce interdependence
because they want to reduce interdependence
because they do not have all the goods and resources they need
because they do not have all the goods and resources they need
because they want to help other countries grow
because they want to help other countries grow
because they want to protect domestic industries from competition
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
which one is the answer? pls
The answer is:
- 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
Why do countries trade goods and services?
Countries trade goods and services for several reasons:
1. Comparative advantage: Countries specialize in the production of certain goods or services that they can produce more efficiently or at a lower cost than other countries. By trading, countries can benefit from each other's comparative advantages and access a wider range of goods and services.
2. Access to resources: Not all countries have an abundance of all the resources they need to fulfill their domestic demand. Trade allows countries to acquire the resources they lack by importing them from other countries.
3. Increased market opportunities: Trading allows countries to expand their market beyond their domestic boundaries. By exporting their goods and services, countries can access a larger customer base and increase their sales and revenue.
4. Economic growth: Trade can contribute to economic growth by stimulating investment, creating employment opportunities, fostering innovation, and increasing productivity. By engaging in trade, countries can tap into the potential benefits of global markets and drive economic development.
5. Diversity and quality of products: International trade allows consumers to access a wide variety of goods and services that may not be available domestically. It promotes competition, which can lead to improved product quality, lowered prices, and increased consumer choices.
6. Diplomatic and political relations: Trade can also play a role in fostering diplomatic and political relationships between countries. By engaging in trade, countries can establish mutual economic interests, enhance cooperation, and promote peace and stability.