What is meant by the foreign exchange market Where is it What is meant by the foreign-exchange market? Where is it located? What is meant by the foreign exchange market Where is it

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter36: Exchange Rates And Financial Links Between Countries
Section: Chapter Questions
Problem 5E
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What is meant by the foreign exchange market Where is it


What is meant by the foreign-exchange market? Where is it located?

What is meant by the foreign exchange market Where is it

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In a closed economy, the economy does not trade with the rest of the world. Whatever the economy produces, it consumes those goods and services. In a free economy, trade with other countries is allowed. Therefore, the economy can buy or dell commodities produced outside the countries. 

 

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