Why do countries trade goods and services?
(1 point)
Responses
because they want to reduce interdependence
because they want to reduce interdependence
because they do not have all the goods and resources they need
because they do not have all the goods and resources they need
because they want to help other countries grow
because they want to help other countries grow
because they want to protect domestic industries from competition
because they want to protect domestic industries from competition
1 answer
All of the above responses are correct reasons for why countries trade goods and services. Countries trade because they want to reduce interdependence, meaning they want to rely less on other countries for the goods and resources they need. They also trade because they do not have all the goods and resources they need domestically, so they rely on other countries to provide those goods and resources. Additionally, countries trade to help other countries grow by providing them with access to their markets and resources. Lastly, countries may also engage in trade to protect their domestic industries from competition by imposing trade barriers or tariffs.