Select all that applyWhich of the following are reasons why international trade has been on the increase over the last three decades?Multiple select question.Better shipping portsCheaper fuel prices.The InternetImprovements in shipping containers
Question
Select all that applyWhich of the following are reasons why international trade has been on the increase over the last three decades?Multiple select question.Better shipping portsCheaper fuel prices.The InternetImprovements in shipping containers
Solution
The reasons why international trade has been on the increase over the last three decades include:
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Better shipping ports: Improved infrastructure and technology at shipping ports have made it easier and more efficient to handle larger volumes of goods. This has facilitated an increase in international trade.
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The Internet: The advent of the internet has revolutionized international trade. It has made it easier for businesses to connect with suppliers, customers, and markets around the world. This has significantly increased the volume of international trade.
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Improvements in shipping containers: The standardization and improvements in shipping containers have made it easier and more efficient to transport goods across long distances. This has facilitated an increase in international trade.
Cheaper fuel prices could also potentially contribute to an increase in international trade by reducing transportation costs. However, fuel prices have fluctuated over the past three decades and have not consistently been cheaper. Therefore, it's not as clear cut as the other options.
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