Should We Have One World Currency Social Studies Social Studies, One World Currency

594 words - 3 pages

Running head: [SHORTENED TITLE UP TO 50 CHARACTERS] 1
Should We Have One World Currency?
[SHORTENED TITLE UP TO 50 CHARACTERS] 2
What would you think if the whole world had on currency? Would you think easier trade?
More imported goods. Or maybe you would think that this hurts our economies. Well in this
essay I am going to tell you why I think international currency is a good thing even though it
could cost a lot it makes an ease in international trading, buying and communication.
One national currency will help with trade especially international trade. Because exports will
increase and imports will decrease due to exports becoming cheaper and imports more expensive
The Balance Small Business says (2018). Also, this improved balance of payments as exports
increase and imports decrease which gives us less trading difficulties says Dotdash publishing
family./2018. One currency can also help correct payments and reduce the amount of miss
calculation and conversions of money. And it can also make trade easier and quicker
without having to trade money for money.
To a consumer's eye buying things across the world for the same price would be
remarkable. And U.S.A Today Prichard, Beau (2018) says that buying goods inner
nationally would be a breeze. Although it has the potential to lower our economy it still
makes buying internationally less of a hassle. It also has the potential to boost our
economy by opening a wider range of customers from all over the world. As it does make
our economy high it doesn’t make our GDP (gross domestic product) any higher but all
the international buying from our country will give us enough money to make up for it.
And it will just be a few tariffs and quotas away from more domestic purchases. In all
this just helps trade go way smother and easier to and for everyone.
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