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3 cards from this section. Quick, good the night before a test.
Define bilateral trade.
Think about how two people can agree to trade items.
What is the main goal of multilateral trade?
Consider why countries might want to trade with more than one partner.
What is bilateral trade?
Think about the prefix 'bi-' which means two.
True or False: Multilateral trade includes agreements among more than two nations.
Remember 'multi' means multiple.
Evaluate how a global economic crisis could impact bilateral and multilateral trade agreements.
Think about what happens when economies struggle.
Design a hypothetical bilateral trade agreement between two countries and outline its benefits.
Consider what each country can offer that the other needs.
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