4
AssignmentMultiple Select

International Trade

Question 4 • IL-Economics

Which statements describe the influence of globalization on most economies? Check all that apply.Most countries are increasingly specializing production.Most countries are becoming more interdependent.Most countries are experiencing unchanging amounts of exports and imports.Most countries are increasingly influenced by the foreign sector.Most countries are relying less and less on international trade.

Answer
A
Most countries are increasingly specializing production.
B
Most countries are becoming more interdependent.
C
Most countries are experiencing unchanging amounts of exports and imports.
D
Most countries are increasingly influenced by the foreign sector.
E
Most countries are relying less and less on international trade.

Explanation

Globalization expands international trade and connections between economies. As a result, countries increasingly specialize in producing certain goods and services, become more interdependent, and are more influenced by the foreign sector. Exports and imports generally change rather than remain unchanging, and reliance on international trade tends to increase, not decrease.

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