International Trade and exchange rates Flashcards
(4 cards)
1
Q
what are the benefits of international trade
A
allows countries a wide range of products which cannot be produced domestically
helps improve customer choice
allows purchase of goods cheaply overseas
opportunity to sell surplus
2
Q
what is visible trade
A
trade of physical goods
3
Q
what is invisible trade
A
trade of services
4
Q
what is visible balance
A
difference between visible exports and visible imports
