a. Explain how specialization encourages trade between countries.
Specialization encourages trade between counties because specialation makes things better and then more countries want to buy the product.
b. Compare and contrast different types of trade barriers, such as tariffs, quotas, and embargo. Trade barriers are anything that stops a free trade a quota is a limit on imports. A tariff is tax on imports. embargo,o is no trade at all. They are different because they stop and do different things and they are the same because they are all trade barriers.
c. Explain the primary function of the Organization of Petroleum Exporting Countries (OPEC). Opec is a organization of oil and trades around the world.
d. Explain why international trade requires a system for exchanging currencies between nations. Because not every countries currency is the same.
Specialization encourages trade between counties because specialation makes things better and then more countries want to buy the product.
b. Compare and contrast different types of trade barriers, such as tariffs, quotas, and embargo. Trade barriers are anything that stops a free trade a quota is a limit on imports. A tariff is tax on imports. embargo,o is no trade at all. They are different because they stop and do different things and they are the same because they are all trade barriers.
c. Explain the primary function of the Organization of Petroleum Exporting Countries (OPEC). Opec is a organization of oil and trades around the world.
d. Explain why international trade requires a system for exchanging currencies between nations. Because not every countries currency is the same.