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Chapter 33: Q.10 (page 803)

What factors does Paul Krugman identify that supported expanding international trade in the 1800s?

Short Answer

Expert verified

Development of railroads, Suez canal, steamships, etc.

Step by step solution

01

Step 1. Introduction

International trade refers to the exchange of goods, services, and resources across international borders.

02

Step 2. Explanation

Paul Krugman has identified improvement in transportation as a factor that helped in the expansion of international trade. the development of railroads significantly improved the flow of trade on land. Goods and people were able to move long distances with the development of railroads.

The development of the Suez canal and steamships further improved transportation through the water. With steamships goods and people were able to move between continents.

The flow of information improved as efforts were focused on electronic technology such as the telegraph. Communication between different parts of the world became much easier.

All these developments significantly contributed to the expansion of international trade in the 1800s.

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