Question

Each year, the US imports billions of barrels of oil from other countries. At the same time, the US exports billions

of dollars worth of agricultural products to other countries. How is this situation an example of economic
interdependence?

Answer 1

Countries specialize in creating certain products, and this is often based on the resources they have available. In this situation, the US specializes in creating agricultural products. It has the resources available to do this effectively. Because the US might not have the immediate resources to meet its own need for oil, it imports oil from other countries. The US depends on the oil from other countries, and those countries depend on the products they receive from the US. Both sides are economically interdependent because they must depend on each other to meet their needs.

Step-by-step explanation: