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Which of the following must be present in order for international trade to be successful?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
Under Mao Zedong’s leadership, the government of China seized control of privately owned factories and land, and made all economic decisions. This was an example of which economic system?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
Which type of economy is based on customs and beliefs?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
46. India exports precious stones to other countries around the world. With the money India receives, they buy steel products from Vietnam. This international trade is a result of :
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
What do tariffs and quotas have in common?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
Many of the oil producing countries cooperate with each other in the Organization of Petroleum Exporting Countries (OPEC). How does this enable these countries to play a significant role in world affairs?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
What are capital goods?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
Japan has a high-tech economy and a highly skilled workforce. Japan also has one of the highest standards of living in the world. Which of the following accounts for Japan’s high standard of living?
OPEC influences the price of oil on the world market.
a traditional economy
specialization
a command economy
Japan invests heavily in human capital and capital goods.
Unlike embargoes, trading still continues with tariffs and quotas.
a system for exchanging currencies
The factories, machinery, and technology used to make other goods
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