Chapter 3 Colin O'Dowd

Colin O’DowdPeriod 32/13/09

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.

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

Balance of Payments Economic conditions Political stability

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.

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.

Australia = +11,874.4 India = -7,095.4 China = -266,332.7 Europe = -107,239.9