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A good economy. So long as it can export the goods. Otherwise it is wasteful.
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∙ 14y ago
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When does a trade surplus occur?
When a country exports more goods then it imports
How does trade affect production and consumption in each country?
Goods are produced to make money. If people want the goods and can afford them, they will purchase these goods and this will cause the producer to make more of these goods.
How does productivity relate to economic growth?
The higher the productivity is, the country has better potential to produce more goods at a lower price and better quality goods are (visibles) and services are (invisibles). These goods will be attractive to other countries and therefore the export of a country will increase. This creates more incoming hot money to a country and AD: aggregate demand grows as more is being exported than imported and economy grows.
Why does a country export goods?
Countries export goods because they have a surplus or more then what they need, gives to countries stuff they don't have, raises money for their country and they trade for something else in exchange for that good.
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.
What goods are carried by ships?
Oil, wood, china goodies, and more.
Does France export more goods or import more goods?
France imports more goods than it does export. That means France is a trade deficit country.
What country seized us ships in 1797?
France seized more than 300 US ships in 1797
What is the term for a tax that makes goods imported by a country more costly than similar goods produced within that country?
A protective tariff.
Which these is not a element of a mercantile system?
the mother country wanted to import more goods than export
Henry Clay thougth the country would benefit from this?
supplying the country with more goods flowing in and out
What do you mean by protectionism?
It is where the government of a country taxes certain import goods from another country. They do this to make these goods more expensive to buy so that producers of the same goods in their own country are not at a disadvantage. So they are said to be protecting their own interests.
When does a trade surplus occur?
When a country exports more goods then it imports
What is pollutes more trucks or ships?
Depens on how you pose the question. Ships can move far more goods per horsepower than a truck, so they should pollute less. OTOH ships usually burn much cruder (dirtier) oil, so smoke puff by smoke puff they pollute more.
How does trade affect production and consumption in each country?
Goods are produced to make money. If people want the goods and can afford them, they will purchase these goods and this will cause the producer to make more of these goods.
What are two or more challenges merchant ships faced?
The American merchant ships had to deal with laws about shipping and trading. They brought goods from British and French colonies to the American ports, then reshipped them as U.S. goods. Legally the goods had to be actually imported before being reshipped, but whether they were in fact imported was hard to prove.
What the definition The amount of money a country brings in to the money that goes out?
It's called the balance of trade. Right now the US has a negative balance of trade with the rest of the world because we buy more goods (oil, Chinese imports, etc.) than we sell or export.
