The pattern of trade is determined by

Question

Quizplus · Accepted Answer

The pattern of trade is determined by both comparative advantage and consumer preferences. Comparative advantage refers to the ability to produce a good or service at a lower opportunity cost than another country, which determines which goods are produced and exported. However, consumer preferences also play a role in determining which goods are traded, as people may have a preference for certain types of products or brands. Ultimately, the combination of these factors determines the pattern of trade between different countries.

The Pattern of Trade Is Determined by