Business, 21.06.2021 16:30 nculberson6

Countries rely on each other for good and services, this is called economic A
balance of trade
B
interdependence
с
international trade
D
quota

Answers: 2

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Answer from: trentdhall56

B. interdependence

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Economic integration can be defined as a strategic trade arrangement between countries to eliminate or mitigate trade barriers, as well as coordinate fiscal and monetary policy among its members.

There are different types of market or trade bloc used in economic integration and these includes;

I. Customs union

II. Free trade area

III. Common market

IV. Political union

VI. Economic union

A free trade area (zone) can be defined as an economic area wherein goods are exported or imported from one country to another without being subjected to normal trade laws such as quotas, bureaucratic requirements and tariffs of the country. Thus, a free trade area (zone) stimulates or enhances foreign trade, investment and globalization.

Hence, when countries rely on each other for good and services, this is called economic interdependence.

Economic interdependence can be defined as a situation in which two or more individuals, organizations or countries depend on one another through the exchange of goods and services, in order to meet their demands or needs.

Answer from: Quest

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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Answer from: Quest

commercial banking

provide online payment services

provide online banking

asset management firms

invest in people's funds in securities

accept tax return refunds

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Countries rely on each other for good and services, this is called economic A
balance of trad...