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3 cards from this section. Quick, good the night before a test.
What is the primary function of the World Trade Organization?
Think about what organization oversees trade agreements.
What does the balance of trade indicate?
Consider what happens when imports exceed exports.
What is the primary basis for international trade?
Think about why countries benefit from trading.
True or False: A favorable balance of trade means exports exceed imports.
Consider what a surplus in one area might indicate.
Evaluate how international trade can impact a developing country's economy both positively and negatively.
Consider both sides of trade influence.
Discuss why countries might seek to form regional trade blocs and the potential implications for global trade.
Think about collaboration vs competition in trade.
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