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Benefits of International Trade
100

Does international trade help countries build stronger relationships with each other?


YES OR NO

Yes

200

When comparing two countries, the difference in prices can be attributed to factors like: 

There is 3

Different Access to Raw Materials

Differences in Capital

Differences in Levels of Technology


300

When there is increased competition, what increases? There is 3. 

Greater Efficiency, Lower Prices, Quality Increases

400

Ghana exports ___ and ___ to the Netherlands. However, due to their weak currency, they have to trade in ___. Only then, they can use the money they get from exports to buy products they need from other countries. 

Gold, Cocoa, Euros

500

List all 8 benefits of International Trade mentioned in the slides. 

  1. Lower Prices

  2. Greater Choices

  3. Differences in Resources

  4. Economics of Scale

  5. Increased Competition

  6. More Efficient Allocation of Resources

  7. Source of Foreign Exchange

  8. International Cooperation