OCR A-Level Geography H481
Coastal Landscapes
Glaciated Landscapes
Dryland Landscapes
Earth’s Life Support Systems
Changing Spaces; Making Places
Trade in the Contemporary World
Global Migration
Human Rights
Power and Borders
Climate Change
Disease Dilemmas
Exploring Oceans
Future of Food
Hazardous Earth
Geographical Skills
Trade in the Contemporary World
The United States: a core economy shaping world trade
- 3 things to know
- Component 02
Overview
Recall questions on the United States as a core economy, its main trading partners, exports and imports, its persistent goods deficit and services surplus, the dollar as reserve currency, the World Trade Organization and blocked dispute settlement, tariffs on China, bilateral deals, agricultural subsidies, and the challenges and opportunities of its trade position.
What you need to know
Answer each one before you reveal it.
Name the three largest trading partners of the United States.
Describe the main components of United States merchandise exports.
Questions from this subtopic
Each one with the model answer underneath.
- 1
What makes the United States a core economy within the global trade system?
Model answer
It has the world's largest economy and consumer market, the leading international currency, and the power to set rules and standards that other countries must meet in order to sell into it.
- 2
Name the three largest trading partners of the United States.
Model answer
Canada, Mexico and China are its three largest trading partners.
- 3
Describe the main components of United States merchandise exports.
Model answer
Aircraft, machinery, vehicles, crude oil and refined fuels, chemicals, medical equipment and farm products such as soybeans and maize.
- 4
What kinds of goods dominate United States merchandise imports?
Model answer
Consumer electronics, vehicles, machinery, clothing and pharmaceuticals, mostly manufactured in Asia, Mexico and Europe.
- 5
What is a trade deficit?
Model answer
A trade deficit occurs when the value of a country's imports exceeds the value of its exports over a given period.
- 6
Explain why the United States runs a persistent deficit on merchandise trade.
Model answer
Americans consume more than the country produces, the strength of the dollar makes imports cheap, and much manufacturing has been offshored to lower-cost countries.
Other ways to work this
The same content, four other ways.
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