Currency exchange and Specialization

Front

How does specialization encourage trade between two countries?

Back

Specialization allows for countries to master one product and sell it to other countries that may need it.

Front

What is one reason for people to exchange currency?

Back

because different countries have different currencies

Front

What is the money people use in a country called?

Back

currency

Front

What must Adriana do in order to pay for the taxi when she arrives in Mexico?

Back

Exchange her Brazilian reais for Mexican pesos.

Front

Why is it important for countries to have a system for exchanging currencies from different countries?

Back

Makes it possible to buy and sell goods in different countries

Front

Because country's currency is worth different amounts than others, countries must rely on

Back

Exchange Rates

Front

Specialization is important because.........

Back

It saves time and money