Which of the following factor is NOT important in determining international trade?
Answer & explanation
Correct answer: option 4
The correct answer is Option 4: None of the above
All the given factors are important in determining international trade:
- Difference in natural resources leads countries to trade goods that are not available locally.
- Difference in population size affects market demand and labour availability.
- Different stages of development influence the type of goods and services countries import and export.