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Why does most of the world's international trade take place between economies that are similar in their level of economic development?
Wiki User
∙ 11y ago
Because of the reason as bellow:
-Regulation and policy
-Economic involvement
-Technology
-Resources
-Culture and environment
-social responsibility
From lay lay168
Wiki User
∙ 11y ago
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What is the Relationship between international trade and economic development?
International trade includes export and import. Export strengthens the economy while import weakens the economy. Economic development relies on foreign and domestic trade. A strong export will bolster the economic development.
What is the Relationship between international trade and economic trade?
International trade includes export and import. Export strengthens the economy while import weakens the economy. Economic development relies on foreign and domestic trade. A strong export will bolster the economic development.
What are the distinctions between economic growth and economic development?
Economic growth is the growth of people which causes economic development, the growth/development of cities/towns. (i.e. businesses and buildings)
What was a major change experienced by European economies between the feudal period and the Commercial Revolution?
international trade became more important to european economies
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What is the difference between economic development and financial development?
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What is the meaning of economies of product differences?
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