People living in different countries can benefit from international trade because
A) different countries use different currencies.
B) trade makes it possible for the residents of different countries to specialize in the production of those things they do best.
C) trade makes it possible for people to acquire goods from foreigners cheaper than they could be produced domestically.
D) both b and c are correct.
E) all of the above are correct.

Question

Quizplus · Accepted Answer

Trade allows countries to specialize in producing goods they are most efficient at producing, and then trade with other countries to obtain goods that they are less efficient at producing. This allows countries to consume a wider variety of goods and services than they could if they were limited to producing everything themselves.

People Living in Different Countries Can Benefit from International Trade