According to the textbook,in regard to international trade,the theoretical ideal is
A) barriers to trade for developing nations, but not for industrial nations.
B) an absence of barriers to the free flow of goods, services, and factors of production among nations.
C) barriers to trade for industrial nations, but not for developing nations.
D) heavy barriers to the free flow of goods, services, and factors of production among nations.
E) an absence of barriers to the free flow of goods, services and factors of production among the member nations of a free trade agreement.

Question

Quizplus · Accepted Answer

The theoretical ideal in international trade is an absence of barriers to the free flow of goods, services, and factors of production among nations. This promotes efficient allocation of resources and maximization of global welfare. While free trade may not always be achievable in reality due to various political, social, and economic factors, it remains the optimal goal.

According to the Textbook,in Regard to International Trade,the Theoretical Ideal