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Rus_ich [418]
1 year ago
5

ZhaellyTS13 i need you. What is the difference between metal and steel​

Social Studies
1 answer:
Gelneren [198K]1 year ago
8 0

answer:

Metal – This is a chemical element made up of various opaque, fusible, ductile and lustrous substances, with some of the most commonly used metals being titanium, copper and nickel.

Steel – By contrast, this an alloy of iron that contains various amount of carbon content.

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What are the benefits and drawbacks of international trade? please explain in two or more paragraphs
kari74 [83]
International trade has flourished over the years due to the many benefits it has offered to different countries across the globe. International trade is the exchange of services, goods, and capital among various countries and regions, without much hindrance. The international trade accounts for a good part of a country’s gross domestic product. It is also one of important sources of revenue for a developing country. With the help of modern production techniques, highly advanced transportation systems, transnational corporations, outsourcing of manufacturing and services, and rapid industrialization, the international trade system is growing and spreading very fast. 

International trade among different countries is not a new a concept. History suggests that in the past there where several instances of international trade. Traders used to transport silk, and spices through the Silk Route in the 14th and 15th century. In the 1700s fast sailing ships called Clippers, with special crew, used to transport tea from China, and spices from Dutch East Indies to different European countries. 

The economic, political, and social significance of international trade has been theorized in the Industrial Age. The rise in the international trade is essential for the growth of globalization. The restrictions to international trade would limit the nations to the services and goods produced within its territories, and they would lose out on the valuable revenue from the global trade.

The benefits of international trade have been the major drivers of growth for the last half of the 20th century. Nations with strong international trade have become prosperous and have the power to control the world economy. The global trade can become one of the major contributors to the reduction of poverty. 

David Ricardo, a classical economist, in his principle of comparative advantage explained how trade can benefit all parties such as individuals, companies, and countries involved in it, as long as goods are produced with different relative costs. The net benefits from such activity are called gains from trade. This is one of the most important concepts in international trade. 

Adam Smith, another classical economist, with the use of principle of absolute advantage demonstrated that a country could benefit from trade, if it has the least absolute cost of production of goods, i.e. per unit input yields a higher volume of output.

According to the principle of comparative advantage, benefits of trade are dependent on the opportunity cost of production. The opportunity cost of production of goods is the amount of production of one good reduced, to increase production of another good by one unit. A country with no absolute advantage in any product, i.e. the country is not the most competent producer for any goods, can still be benefited from focusing on export of goods for which it has the least opportunity cost of production. 

Benefits of International Trade can be reaped further, if there is a considerable decrease in barriers to trade in agriculture and manufactured goods.

6 0
3 years ago
Why did the United States want to stay out of world affairs in the 1930s?
OLEGan [10]
During the 1930s, the combination of the Great Depression and the memory of tragic losses in World War I contributed to pushing American public opinion and policy toward isolationism.
7 0
2 years ago
Read 2 more answers
In what directions did the German forces advance as they invaded the Soviet Union?
laila [671]
The German Invasion of Soviet Union consisted of a three prong attack.

One was towards the north-east focusing on the major city of Leningrad.

The second force was working directly towards to the capital city of Moscow.

A Third unit was going to the South-East towards Ukraine and Caspian sea to take the city of Baku because of its vast oil reserves.
3 0
3 years ago
Serial killers in entertainment media are commonly portrayed, despite the fact that serial killers account for only what percent
tino4ka555 [31]

Answer:

2-3%

Explanation:

According to the Federal Bureau of Investigation, only about 2-3% percent of homicides yearly are carried out by serial killers. and no more than 1% of of all murders in US history.

5 0
3 years ago
A tariff is a form of taxation on foreign products, while a quota is a ______ on imports from foreign countries.
Naya [18.7K]
The answer to this question is C
4 0
3 years ago
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