What other economic process needs to accompany international trade, for nations to beneﬁt from such trade?

Question

Quizplus · Accepted Answer

Specialization in production is essential for nations to benefit from international trade as it allows them to focus on producing goods and services where they have a comparative advantage, resulting in increased efficiency and productivity. Nationalization of industries, regulation of production and trade, and spreading out of resources may or may not be necessary depending on the specific context and circumstances.

What Other Economic Process Needs to Accompany International Trade, for Nations