Answer:
No country can do everything! Every country relies on trade to get what they need! Usually, countries produce goods and services that they can provide most efficiently.
Explanation:
Imagine that you can make cupcakes very well, maybe you can't do math. What if the person who can do math wants one of your cupcakes? You'd probably give them a cupcake for help on your math. Trading. Boom. You both get what you wanted fast and efficiently.
We're using cupcakes and math in this situation, but in SW Asian people aren't probably looking for cupcakes or math help, are they? It's important that countries help each other for their benefits, countries need other things to survive other then what they make! With specialization it makes everything quicker and easier!
Answer:
Open trade is particularly beneficial to the poor, because it reduces the cost of what they buy and raises the price of what they sell. As new research from the World Bank and the World Trade Organization makes clear, farmers and manufacturing workers earn more income when their products can reach overseas markets.
Answer:
An economic system is any system of allocating scarce resources. Economic systems answer three basic questions: What will be produced, how will it be produced, and how will the output society produces be distributed?
Answer:
District Planning Committee (DPC) is the committee created as per article 243ZD of the Constitution of India at the district level[1][2] for planning at the district and below. The Committee in each district should consolidate the plans prepared by the Panchayats and the Municipalities in the district and prepare a draft development plan for the district.[3]
