Specialization and trade means more output throughout the world.

Name: Specialization and trade means more output throughout the world.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Specialization allows individuals, businesses, and countries to focus on producing goods and services where they have a comparative advantage, leading to increased efficiency and higher output. Through trade, these goods and services can be exchanged between countries, resulting in even more output and overall economic growth.

Specialization and Trade Means More Output Throughout the World