Chapter 3 Colin O'Dowd
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The document discusses a country's balance of trade, exchange rates between currencies, and factors that affect international trade. It provides examples of exchange rates between the US dollar and other currencies. It also lists balance of payments, economic conditions, and political stability as influencing international trade and gives trade balance statistics for some countries.
Chapter 3 Colin O'Dowd
- 1. Colin O’Dowd Period 3 2/13/09
- 2. The difference between a countries total exports and total imports is that countries balance of trade. If you have a good balance of trade then you will have a good economy because you will be making more money.
- 3. Is the value of a currency in one country compared with the value of another. 1.00 USD =14.4500 MXN 1.00 USD = 34.5905 RUB 1.00 USD = 91.9731 JPY
- 4. Balance of Payments Economic conditions Political stability
- 5. Because if you have a good geography then you can easily trade with people around you and not have to pay tons of money to ship the items over seas.
- 6. Because you want to make sure your products don’t have things that will hurt the importees culture or social status. If you hurt their culture they will never want to trade with you.
- 7. Australia = + 11,874.4 India = -7,095.4 China = -266,332.7 Europe = -107,239.9