Use the accompanying table to answer the following questions.
Table 3-4

-Refer to Table 3-4. If England and Spain specialise and trade according to their comparative advantages:
A) England will specialise in and export bread
B) some individuals in each country will be hurt
C) more of each good can be consumed in both countries
D) all of the above are correct

Question

Use the accompanying table to answer the following questions.
Table 3-4
 
-Refer to Table 3-4. If England and Spain specialise and trade according to their comparative advantages:
A) England will specialise in and export bread 
B) some individuals in each country will be hurt 
C) more of each good can be consumed in both countries 
D) all of the above are correct

Quizplus · Accepted Answer

When countries specialize and trade according to their comparative advantages, they can produce and consume more efficiently, leading to increased overall consumption. However, some individuals may be negatively affected due to changes in the job market or industry shifts.

Use the Accompanying Table to Answer the Following Questions