What happens if Japan chooses to engage in trade?

Name: What happens if Japan chooses to engage in trade?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Japan can benefit by trading with any other country, regardless of whether it produces the same goods or not. Trade allows countries to specialize in the production of goods and to exchange them, leading to increased efficiency and higher standards of living. Additionally, even if Japan could produce a particular good on its own, it may be more cost-effective to import it from another country.

What Happens If Japan Chooses to Engage in Trade