Power
TRUE OR FALSE: Growth in a country's economy can result in less power
False
This is what wealthy countries do when they sell products like cars, electronics, or agricultural goods to other countries, boosting their economy.
Export
This is the term for goods or services brought into a country from another country
Define resources
a physical material that humans need and value
Countries like the United States and China have more of this, which helps them control global trade and decide what to import or export.
Power
When a country has this it means they have an abundance of valuable possessions or money
Wealth
This is the name of the agreement that helped to improve trade between Canada, the U.S., and Mexico by reducing barriers and creating stronger economic ties
USMCA
Name 3 Canadian exports
oil, gas, agriculture, forestry, mining
When people have power they also have more access to __________ and ____________
Wealth & Resources
Having more wealth can provide these, which include access to better education, jobs, and the ability to improve one's living situation.
Oppurtunities
This is when a country sets rules or taxes on imports to protect its own economy or control trade
Tariff
Name 3 products MANITOBA exports
canola, wheat, pork, dairy products
These countries have strong economies, advanced technology, high standards of living, and well-established infrastructure, often having the power to influence global trade
Developed country
Wealth is important because it allows countries to buy goods from other countries and sell goods to other countries, which helps a country grow its ________.
Economy
Countries with greater wealth can do more of this, which helps drive their economy and increases their global influence
These countries often struggle to export valuable products because they lack the resources or power to compete with wealthier, more developed nations
Developing countries
This group of people has the ability to control a country’s resources and decide how the national budget is spent, influencing areas like healthcare, education, and infrastructure
Government
This term describes a situation where a wealthy country uses its wealth to buy products from poorer countries at lower prices, sometimes taking advantage of their resources
Unequal trade
This is what wealthy countries can use to influence global trade, often by creating agreements that make it easier to import and export goods
Trade agreement
A country's exports are based on two factors, these two factors are ____________ resources and ____________