Trade is beneficial because it:

Question

Quizplus · Accepted Answer

Trade allows each nation to specialise in doing what it does best, which results in increased efficiency and productivity. This leads to lower costs for goods and services, increased competition, and ultimately higher standards of living for the countries involved. Although trade can create jobs for middlemen and shippers, this is not the primary nor the most significant benefit of trade. Economic pressure on other nations is also not a central benefit of trade, as trade is meant to promote cooperation and mutual benefit among nations.

Trade Is Beneficial Because It