Trade can be beneficial to society as a whole because it allows

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Trade allows for a more efficient use of resources because countries can specialize in producing goods that they are most efficient at producing, and then trade with other countries for the goods that they are less efficient at producing. This leads to a more efficient allocation of resources, as each country can focus on producing the goods that it is best at producing.

Trade also allows for goods to be obtained at a lower opportunity cost. When countries specialize in producing certain goods, they can produce those goods at a lower cost than other countries. This allows them to trade for other goods at a lower opportunity cost than if they tried to produce those goods themselves.

Finally, trade allows people to specialize in activities in which they have a comparative advantage. This means that people can focus on doing what they are best at, which leads to greater productivity and efficiency. By allowing people to specialize in their areas of comparative advantage, trade can help to increase overall economic output and raise living standards.

Trade Can Be Beneficial to Society as a Whole Because