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by katrinalinsley5875a66a6450e
Last updated 3 years ago

Social Studies

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EconomicsGrade: 12

Economic InterdependenceDefinition:A relationship between two or more people, regions, nations or other entities in which each is dependent on the other for necessary goods or services. Economic interdependence often occurs when all parties are specialized in the fulfillment of some requirements, and must trade with others for unmet requirements.

Images #1: This picture shows which countires can produce certain products that the other countries will trade for.#2: This photo shows countries and who they mostly trade with.#3: This pictures shows the product market and factor market circular flow

Economic interdependence has been considered as a trading relationship where we are able to trade with other people, nations, regions, or other entities for products we are not able to produce ourselves. With the support of the economic growth in the new market economies and new developing countries, and their integration into the emerging global economic system will benefit the factory-made countries as well. Without economic interdependence we would have a difficult time getting the products that we aren't able to factory make ourselves. We can trade products that we can produce very easily and quickly with people, nations or regions that dont have the ability to produce on thier own or as quickly as they would like. Those are the reasons that I thought were the most important.




Image to the right >With this chart of the economic growth from 1981 to 2017 my prediction for the future of the economic interdependence growth is that it will increase more than the year 2017


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