One of the important outcomes of international trade is that countries specialise in the output of things they are best at.

Question

Quizplus · Accepted Answer

This is known as the principle of comparative advantage, which states that countries should produce and export goods that they can produce more efficiently and import goods that they cannot produce as efficiently. This allows countries to focus on their strengths and specialize, which leads to increased efficiency and overall economic growth.

One of the Important Outcomes of International Trade Is That