Which of these must be present for international trade to be successful? a system for exchanging currencies, a system for imposing protective tariffs, a system for securing borders, a system for raising taxes
Europe Specialization, Currency & Trade

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•
Social Studies
•
6th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
a system for exchanging currencies
2.
FLASHCARD QUESTION
Front
How does voluntary trade help the economy?
Back
It encourages specialization which means more profit.
3.
FLASHCARD QUESTION
Front
Why does specialization make trade between countries easier?
Back
Countries can produce what they make best and trade with others for what they need.
4.
FLASHCARD QUESTION
Front
Why is it important for nations to have a system to convert from one currency to another?
Back
Makes it possible to trade between countries with different types of money.
5.
FLASHCARD QUESTION
Front
This country's main economic sectors are finance and banking industries, manufacturing and construction. Which country is it?
Back
United Kingdom
6.
FLASHCARD QUESTION
Front
Scenario: The US refuses to trade with any countries that support terrorism. What trade barrier is this?
Back
Embargo
7.
FLASHCARD QUESTION
Front
Tariffs and quotas are alike because they both __________________.
Back
let trade continue, but restrict or limit it between countries.
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