Australia can benefit from trade if it

Question

Quizplus · Accepted Answer

By trading with all other countries, Australia can access a wider range of goods and services, allowing for greater economic growth and efficiency. Trading with countries that make the same goods as Australia can also be beneficial as it allows for specialization in certain goods and the exchange of expertise and technology. Avoiding trade with countries with lower wages or only trading with countries with higher wages may limit potential markets and limit opportunities for growth and innovation.

Australia Can Benefit from Trade If It