FAQ: Which Country In The Pacific Asia Region Has One Of The World’S Largest Economies?

Which country is the world’s largest marketplace in most stable economy?

North America is the world’s largest marketplace and has the most stable economy. The United States dominates the North American market, but Canada and the United States are each other’s largest trading partners.

Which of the following exists when a country can produce something more cheaply?

A comparative advantage exists when a country can produce goods at a lower opportunity cost compared to other countries. It is not possible for a country to have a comparative advantage in all goods. However, a country can have an absolute advantage in all goods.

Which country is the world’s largest marketplace and most stable economy Group of answer choices?

America is the world’s largest national economy and leading global trader. The process of opening world markets and expanding trade, initiated in the United States in 1934 and consistently pursued since the end of the Second World War, has played an important role in the development of American prosperity.

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What is the most stable country?

Finland is the most stable country in the world. The Fund for Peace, Fragile States Index 2018. Finland is the freest country in the world together with Sweden and Norway.

Which region is most likely to export bananas?

Ecuador is the largest exporter of bananas in the world and its share of world banana trade is on the increase. Exports expanded from one million tonnes in 1985 to 3.6 million tonnes in 2000.

Which region specializes in diamonds?

Sub-saharan Africa is a region that specializes in diamonds.

When a country is more efficient than any other country at producing a product the country has a N?

Comparative advantage refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another. Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages.

Why is US economy so strong?

It is the world’s largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP). The nation’s economy is fueled by abundant natural resources, a well-developed infrastructure, and high productivity.

What is the world largest single market?

Towards open and fair world-wide trade The European Union is one of the most outward-oriented economies in the world. It is also the world’s largest single market area.

What is the United States total largest export to Canada?

In 2020, U.S. exports of goods to Canada totaled $256.1 billion. The top export categories (2-digit HS) in 2020 to Canada were: machinery ($39billion), vehicles ($38 billion), electrical machinery ($22 billion), mineral fuels ($16 billion), and plastics ($13 billion).