Which of these is NOT a prerequisite ( requirement) for a trading nation? A) a merchant class B) a well developedd transportation system C) a central location relative to markets D) abundant raw materials E) excess capital
Social Studies · Middle School · Thu Feb 04 2021
Answered on
D) abundant raw materials is NOT a prerequisite for a trading nation. A trading nation can be very efficient and profitable without having its own abundant raw materials, as it can import raw materials from other places and add value or re-export them. For instance, historical trading hubs like Singapore and Hong Kong have thrived as trading nations with limited natural resources by focusing on other aspects that facilitate trade, such as strategic location, free ports, efficient logistics, and a favorable business environment.