- What is economic interdependence?

2 answers:

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- What is economic interdependence?

Economic Interdependence is relying on another country or entity to provide products or services you can't produce yourself.

- How does interdependence happen globally?

This interdependence can happen due to climate or agricultural deficits such as no proper temperature or land to grow a certain product. Such as Greenland probably can't grow many citrus fruit plants due to no warm weather climate

- Why does interdependence occur?

Interdependence occurs due to population demands or cost of trying to produce is too high; or lack of particular physical resources to produce the item.

- Do you think it is possible for a country to avoid economic interdependence? Why or why not?

Is it possible to avoid it? Yes I believe so for certain well developed countries with many resources.
For smaller, underdeveloped countries it would prove possible if population willing to go without the certain product or service. If they have never had it they won't miss it.
That question has many factors to consider.

Dmitry_Shevchenko [17]3 years ago

3 0

Answer:

1. Is when two or more countries trade products that they can not by themselves produce or are too expensive to produce.

2. It happens when the market needs a supply of services and products and the local producers can´t satisfy that need at all or at a affordable price.

3. Because we live in a globalized world.

4. Yes, if the country has enough resources to produce everything, or if the market is willing to not have certain products available.

Explanation:

A good example of countries avoiding economic interdependence would be the socialists or communists countries, Cuba for example had been living for a long time with an economic block from the USA and all of its allies, Cuba could only trade with Russia, soviets, China and Venezuela, they had a extreme lack of products and services but the country was forced to accept it.

Economic interdependence can help the consumer get the best product at the best price and helps increase competition among producers.

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