coraltoad303Lv1
15 Jan 2022
Problem 6
Page 461
Section SELF: CHECK QUESTIONS
Chapter 19: International Trade
Textbook ExpertVerified Tutor
15 Jan 2022
Introduction
Equilibrium quantity is when there is no shortage or surplus of a product in the market. Supply and demand intersect, meaning the amount of an item that consumers want to buy is equal to the amount being supplied by its producers.
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. When trade takes place between two or more states factors like currency, government policies, economy, judicial system, laws, and markets influence trade.
Unlock all Textbook Solutions
Already have an account? Log in