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Select All That Apply

question 16

Multiple Choice

Select all that apply. Which of the following statement(s) about global variables is(are) true?


Definitions:

Trade

The exchange of goods, services, or both between parties, which can occur domestically or internationally.

World Price

World Price is the international price of a good, determined by global supply and demand, affecting domestic markets.

Domestic Market

The availability and need for products and services inside the boundaries of a nation.

Surplus

A situation where the quantity of a product or resource exceeds the quantity demanded or utilized.

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