A country will gain from specialization and trade, even if it is less efficient in producing all goods, as long as it specializes in those goods that it can produce

Question

Quizplus · Accepted Answer

Specialization and trade benefit a country when it focuses on producing goods for which it has a comparative advantage, meaning it can produce them relatively more efficiently than other goods, even if it is not the most efficient producer overall.

A Country Will Gain from Specialization and Trade, Even If