In terms of production of output, having international specialization and trade is equivalent to

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Quizplus · Accepted Answer

International specialization and trade allow countries to produce and export goods in which they have a comparative advantage and import goods in which they have a comparative disadvantage. This leads to more efficient global production, similar to the effect of having more resources or better technology, as it allows for a greater overall output than would be possible if each country attempted to produce everything on its own.

In Terms of Production of Output, Having International Specialization and Trade