We benefit from trade if we are able to obtain a good from a foreign country:

Question

Quizplus · Accepted Answer

Trade is beneficial if we can obtain a good from a foreign country by giving up less of other goods than what we would have to give up to obtain the good domestically. This is known as the principle of comparative advantage, where countries specialize in producing goods they can produce more efficiently and trade for goods they cannot produce efficiently. By doing so, both countries can consume more of all goods than they could in the absence of trade.

We Benefit from Trade If We Are Able to Obtain