Which of the following is a key reason for global trade?
A) Better access to factors of production
B) Better access to natural resources
C) Greater dependence on a single economy
D) Increased chances of trade surplus

Question

Quizplus · Accepted Answer

Global trade allows countries to access factors of production that may not be available domestically or are more expensive to produce domestically. This can lead to increased efficiency and productivity, as well as greater variety and quality of goods and services. Better access to natural resources may be a factor as well, but it is not the key reason for global trade. Greater dependence on a single economy and increased chances of trade surplus are not generally seen as beneficial outcomes of global trade.

Which of the Following Is a Key Reason for Global