Question 1 (3 points) Saved The blue arrow on the map above shows the location of Mongolia. The red arrow shows the location of China. Mongolia has a population of 3 million people and the 144th largest economy in the world. China has a population of 1.3 billion people and is the 4th largest economy. Which statement best describes why these two nations are so different? Question 1 options: China's economy benefits from its location near the mountains. Mongolia's economy is controlled by Russia and India. Mongolia's arid climate cannot support a large population and economy. The climate regions of China make living there difficult.

Mongolia's economy is controlled by Russia and India. Mongolia's arid climate cannot support a large population and economy is briefly described below in details.

Explanation:

The economy of Mongolia is conventionally based on agriculture and the herding of animals, but now the Mongolian economy is transformed from an agrarian economy to an industrial economy Now the Mongolian economy is also getting foreign investment in the mining sector. Mongolia has vast reserves of natural resources such as gold, coal, copper, tungsten, uranium, and, tin.

trade regulation is a field of law, often bracketed with antitrust (as in the phrase “antitrust and trade regulation law”), including government regulation of unfair methods of competition and unfair or deceptive business acts or practices. antitrust law is often considered a subset of trade regulation law. franchise and distribution law, consumer protection law, and advertising law are sometimes considered parts of trade regulation law.

in general the theory of economics says that the more open to trade a country is the better   the result for the same country and the whole economies.

in real life countries impose taxes, quotas, etc which is not so good for the economies.

this kind of commercial war between the usa and china is slowing down the growth of the whole world so we can say that it is a draw back of trade regulations. and the free trade agreements are benefits of trade regulations.

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