What basic concept related to international trade is the most important?

Question

Quizplus · Accepted Answer

Comparative advantage is the most important basic concept related to international trade as it explains how even if one country can produce all goods more efficiently than another country, both countries can still benefit from trade if they specialize in producing the goods they can produce at a lower opportunity cost. This leads to increased efficiency and trade gains.

What Basic Concept Related to International Trade Is the Most