Beneﬁts from international trade are based on differences in the following areas, except

Question

Quizplus · Accepted Answer

The benefits from international trade are based on differences in resource endowments, technological capabilities, and product quality and other attributes. Income levels are not a basis for the benefits of international trade, as trade can occur between countries with both high and low income levels, and the benefits of trade are not necessarily limited to income gains.

Beneﬁts from International Trade Are Based on Differences in the Following