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Why were there not many merchants in Sparta?
Sparta was a rural society. The city was more like a collection of villages. It lived frugally on its produce rather than on trade.
Adam smith developed the theory of what in 1776?
Absolute Advantage - an economic theory that holds when a nation can produce a certain type of good more efficiently than others countries, it will trade with countries that produce other goods more efficiently.
What countries consume more energy than they produce?
Japan.
3 importance resons why nations trade?
there are 4 powerful economic reasons for countries to trade: - Comparative advantage (Able to produce something more efficiently than other countries) - Economic of scales (lower cost due to specialization and mass production) - International competition => beneficial for the world - Spread of technology Other non economic reasons -Increased consumer choice -Political and social gains due to trade treaties (Peace between countries who trade)
What Occurs when one country buys more in another country than it sells to that country?
When countries buy it is called imports. When countries sell it is called exports. Countries want to sell more than they buy, that is called a trade surplus. When countries buy more than they sell it is called a trade deficit.
How can you put oxen in a sentence?
In some countries, people will trade in oxen and other animals, rather than money.
Why do yields tend to be low in many less economically developed countries?
These countries often do not have access to the higher yielding crop varieties like the more developed countries do, as well as there are not many trade opportunities for farmers from these countries to make much money from. Thus they are more inclined to produce grain for their famileis rather than for sale purposes.
Why were there not many merchants in Sparta?
Sparta was a rural society. The city was more like a collection of villages. It lived frugally on its produce rather than on trade.
Adam smith developed the theory of what in 1776?
Absolute Advantage - an economic theory that holds when a nation can produce a certain type of good more efficiently than others countries, it will trade with countries that produce other goods more efficiently.
What necessity led to the expansion of trade in ancient Rome?
It was opportunity rather than necessity. Trade is stimulated by opportunities to produce and sell good. The expansion of Roman trade was linked to the expansion of the Roman Empire, which created a large common trading unit with the Romans coins providing a common currency and the Romans building infrastructure to facilitate trade.
How did the creation of the Atlantic slave trade affect colonies' relationship with their mother countries?
It resulted in a triangular exchange between the Americas, Europe, and Africa rather than a direct exchange between colonies and their mother countries. -Jade
Does Cuba produce more oil than average countries?
no, they don't produce a lot
Which object in space produces rather than reflects light?
All stars produce light rather than reflecting light.
Why would a customer choose to buy fair trade products rather than a different brand?
Because the companies marketing the products claims that the local producers always get a fair price from them for their produce.
Why did the phoeicians focus on trade rather than farming?
because your mom
What countries consume more energy than they produce?
Japan.
What Economics system is currently replacing communism in former Soviet countries?
Capitalism:an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
