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Part a - accessing trade data (7 points possible, based on having correct answers)

1 Answer

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Final answer:

International trade affects market-oriented economies in various ways, making them vulnerable to disruptive changes in the global market.

Step-by-step explanation:

International trade is a complex subject that impacts market-oriented economies in various ways. One reason for this is that market-oriented economies rely on trade to access goods and services that are not available domestically. This reliance on trade makes market-oriented economies susceptible to disruptive changes in the global market, such as shifts in supply and demand or changes in trade policies.

For example, if a market-oriented economy heavily relies on a specific import from a foreign country and that country suddenly imposes high tariffs or bans exports of that product, it can significantly disrupt the economy of the importing country. On the other hand, disruptions in the importing country's economy, such as an economic recession or changes in consumer preferences, can also affect international trade by reducing the demand for imported goods and services.

In summary, the complexity of international trade and its impact on market-oriented economies arise from the interdependence between countries in terms of accessing goods and services. This interdependence makes market-oriented economies vulnerable to disruptive changes in the global market.

User Chuck Lantz
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