Specialization and trade allow countries to consume beyond their PPFs.

Name: Specialization and trade allow countries to consume beyond their PPFs.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

Specialization and trade enable countries to focus on producing goods in which they have a comparative advantage, and by trading these goods, countries can obtain a variety of goods and services at lower opportunity costs, effectively allowing them to consume at points beyond their own production possibilities frontiers (PPFs).

Specialization and Trade Allow Countries to Consume Beyond Their PPFs