ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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forms of leadership
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types of climates
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systems of currency
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methods of transportation
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Detailed explanation-1: -Because every country does not use the same type of money, international trade requires a system for exchanging currencies between nations. Money from one country must be converted into the currency of another country to pay for goods in that country.
Detailed explanation-2: -International trade refers to the trade between two (or more) countries, though bilateral trade has been a better term.
Detailed explanation-3: -international trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food.
Detailed explanation-4: -exchange, international exchange also called foreign exchange, respectively, any payment made by one country to another and the market in which national currencies are bought and sold by those who require them for such payments.