1. What is international trade1

Apuntes

1. What is international trade? International trade is the exchange of goods and services between countries. It allows nations to buy products they do not produce themselves and sell products they make to other countries. 2. Why do countries trade with each other? Countries trade with each other because they have different resources, skills, and climates. Some countries can produce certain goods more efficiently or cheaply than others. Trade allows them to get what they need while selling what they produce best. 3. What does "export" mean? "Export" means to send goods or services to another country for sale. For example, if Mexico sells avocados to the United States, Mexico is exporting avocados. 4. Why do some countries import clothes or toys? Some countries import clothes or toys because they may not have the resources, technology, or climate to produce them efficiently or at a low cost. Also, importing allows consumers to have a greater variety of products and often at better prices. For example, a country without textile factories might import clothes, and a country without toy manufacturers might import toys from places that specialize in making them. 5. What might happen if ...