1) Note three items in your possession (technology equipment, clothes, music) that were made in or imported from countries besides your own country. List those countries and find the trade balance your country has with each one. Identify the reasons why each type of trade balance occurs.
The three items in my possession that were imported from other countries are my iPhone 12 Pro Max, MacBook, and my On Cloud shoes.
1.) IPhone 12 Pro Max from China:
The Trade Balance is Deficit because the demand for high-end smartphones in my country significantly exceeds local manufacturing capabilities, necessitiating substantial imports from China.
2.) MacBook from China
The Trade Balance is Deficit because it's a high-end product, it is not produced domestically in sufficient quantities, leading to continued reliance on importws from China, further contributing to the trade deficit.
3. On Cloud Shoes from Switzerland
The Trade Balance is Surplus because the brand is recognized for its innovative design and quality. Our country exports complementary athletic goods, which creates a favorable trade balance with Switzerland, as the export of these goods offsets of these goods offsets the important of On Cloud shoes.
2) Create a graph or illustration to show what is happening to the overall savings and investment if a country is running a trade deficit.