Who gains from international trade?
A) only the exporting nation
B) only the importing nation
C) both the importing and the exporting nations
D) neither the importing nor the exporting nations
E) The gains depends on which nation gets to keep the total revenue from the sale

Question

Quizplus · Accepted Answer

Both the importing and exporting nations gain from international trade because it allows them to specialize in producing goods and services that they can produce efficiently and at a lower cost than other countries. This, in turn, increases productivity, creates jobs, and lowers prices for consumers, resulting in economic growth and higher standards of living. Additionally, international trade increases competition, which can drive innovation and technological advancements.

Who Gains from International Trade