Why does trade allow for specialization?
Scarcity requires countries to create trading partnerships based on what one country does better than the other.
B
Because some countries don't have any resources.
C
Because big countries can't create a balance of trade.
D
This is the only way to have a balanced budget.

Question

23-05-2024
Social Studies

Answered

Why does trade allow for specialization?
Scarcity requires countries to create trading partnerships based on what one country does better than the other.
B
Because some countries don't have any resources.
C
Because big countries can't create a balance of trade.
D
This is the only way to have a balanced budget.

Answer :

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Final answer:

Trade enables specialization through comparative advantage, optimizing resource use in international trade.

Explanation:

Trade allows for specialization because no country has all the resources necessary to produce everything it needs. Countries specialize in producing goods and services they can efficiently create, based on factors like resources, skills, and technology. This leads to comparative advantage and benefits all involved in international trade.

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