China+imports

Source: usatoday.com/money/industry/chinacommodities.html

Evaluation: China is thinking about importing even more rice from other exporting countries. The demand for food within the country along with the quantity demanded has risen. China also has an increase if demand for commodity goods. China is also one of the biggest countries demanding raw materials or in other words necessary goods. They do not have a choice when consuming these materials. China is alos a growing and developing country. It needs a lot of materials so all of its imports are effected by its increasing demand. In this case it’s the rice imports that have been increased since the population is growing. The determinant of demand in this scenario is population. The US wants to export rice to china too because it also needs more money.

Diagram: british exports to china: the demand his risen generating more money and quantity demanded.

Define: Import/export: when goods are transferred internationally or domestically for a profit.

Quantity demanded: the quantity of goods demanded.

Commodity goods: any goods that could be solf for a profit.

Necessary goods: goods that must be bought by a consumer, basic goods.

Determinant of demands: factors that could effect the demand for a good, like an increase in population could increase the demand for food.