Answered: A6 b4. Elaborate on any four current…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A6 b4. Elaborate on any four current external risks that may affect trade activity of Singapore.

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Introduction:

The voluntary exchange of goods or services between various economic actors is referred to as trade.As there is no obligation on the part of the parties to trade, a transaction will only happen if both parties think it will advance their interests. Trade is necessary if poverty is to be eradicated globally.. Open economies frequently innovate, grow more productive, provide their citizens with better opportunities, and raise their citizens' incomes. Open trade also benefits households with lower incomes by giving consumers more reasonably priced goods and services.

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