Which of the statements about the gains from international trade is correct?
A) Everyone gains from international trade.
B) Some people gain from international trade and some lose, though overall the gains exceed the losses.
C) Some people gain from international trade and some lose; overall the gains exceed the losses.
D) Everyone loses from international trade.

Question

Quizplus · Accepted Answer

While it is true that international trade generates overall gains, there are winners and losers. Some industries and workers may suffer from competition with imports, while others benefit from increased access to foreign markets and lower costs for imported inputs. However, the overall gains for the economy as a whole are expected to outweigh the losses, as trade allows for specialization, economies of scale, and a wider variety of goods and services at lower prices.

Which of the Statements About the Gains from International Trade