Volume and Direction of International Trade This exercise gives you the chance to examine the volume of international trade, the nations that import and export the most goods and services, and the importance of major trading partners. The volume of international trade, the largest trading nations, the direction of trade, and the relevance of major trading partners will be concepts reviewed. Reread the sections in your book entitled, "International Trade." "Direction of Trade." and "Major Trading Partners: Their Relevance for Managers before attempting to complete this exercise. Read the case below and answer the questions that follow, Melissa Sanchez (a disguised name) is an undergraduate business student at a university in the United States. She is trying to decide what she wants to do for a career after she earns her degree. A friend suggested that international trade was a large and growing area of business activity, and that there were some excellent career opportunities as a result. Melissa was intrigued by this idea, but she did not know very much about what international trade entailed, such as what the volume of international trade was, whether it was growing or shrinking or by how much, or which countries are the most active in exporting or importing goods and services. Since Melissa wanted to be based in the United States, she also wondered which countries might be the most important trade partners for the United States. Choose the selection that best depicts the direction of world trade in 2015. Multiple Choice The share of world trade accounted for by members of regional trade agreements decreased from 70 percent in 1980 to about 40 percent by 2018 About half of the exports from developing nations go to developed countries. The proportion of exports from developing nations to developed countries increased from 50 percent in 1970 to about 72 percent in 2015 Approximately 25 percent of exports from developed countries go to other developed countries