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What does it mean for England to have a favorable balance of trade?
it means they are taking in more money exporting its goods than it pays out to buy goods from other countries
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
Why does China sell goods to other countries?
All countries sell goods to other countries, if they have goods to sell. Not every country has everything, so by selling their wares, the country can buy things that they don't have. Also, it is a way of building their economy; the more they sell, the richer they become.
Why do people have to exchange currency?
To do business with people from other countries, or because they are travelling to other countries and need to buy things.
What are goods produced inside the US that are sold and shipped for use in order countries called?
these are called exports. imports are the ones that other countries sell and that we buy
What did Egypt buy from other countries?
trade goods
What does it mean for England to have a favorable balance of trade?
it means they are taking in more money exporting its goods than it pays out to buy goods from other countries
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
Why does China sell goods to other countries?
All countries sell goods to other countries, if they have goods to sell. Not every country has everything, so by selling their wares, the country can buy things that they don't have. Also, it is a way of building their economy; the more they sell, the richer they become.
North and South view points about the Tariff Act of 1828?
Northerners were angry,because this would cause people to buy goods from other countries.
How does the Saudi king use oil to help other areas of his kingdom?
Money is kept for himself to buy goods from other countries
Why would some regions not support the tariff?
Because it makes the finer goods that they buy from other countries more expensive
How does trade link countries?
International trade is the exchange of goods and services between countries. Trade happens because no country has everything it needs. Countries buy things that they do not have, or things that are cheaper, from other countries.
Where did Greek citizens buy their goods?
It matters. Athens just traded with other countries. Sparta attacked other city-states and and stole. That's how they did it.
Why do people have to exchange currency?
To do business with people from other countries, or because they are travelling to other countries and need to buy things.
What are goods produced inside the US that are sold and shipped for use in order countries called?
these are called exports. imports are the ones that other countries sell and that we buy
How would you explain the interdependence of present-day nations on each other for trade and commerce?
Nations depend on other countries to buy their surplus goods so that they in turn can buy the products and raw materials they need.
