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A World View Titled "Export Ratios" Examines the Openness of Trade

question 13

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A World View titled "Export Ratios" examines the openness of trade for several countries based on the trade to GDP ratio.Of the countries listed below,which is the least open to trade?


Definitions:

Ford

an American multinational automaker known for revolutionizing assembly line production for automobiles.

Factor of Production

A Factor of Production is an input used in the production of goods and services, such as land, labor, capital, and entrepreneurship.

Demand

Refers to the quantity of a product or service that consumers are willing and able to purchase at various prices over a given period of time.

Supply

The total quantity of a product or service that is available to consumers at a given price level.

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