If nations trade on the basis of comparative advantage

Name: If nations trade on the basis of comparative advantage
Brand: Quizplus
Rating: 4.8 (52 reviews)

Question

Quizplus · Accepted Answer

Comparative advantage allows for all trading partners to mutually gain because it promotes specialization in goods and services in which each country is the most efficient, leading to increased efficiency and productivity overall. This allows for greater overall output and lower costs for all countries involved, leading to mutually beneficial gains from trade.

If Nations Trade on the Basis of Comparative Advantage