The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-International trade permits greater consumption than would be possible from the domestic production alone.

Question

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5
 
-International trade permits greater consumption than would be possible from the domestic production alone.

Quizplus · Accepted Answer

International trade allows countries to specialize in producing goods they can produce most efficiently and import goods that they cannot produce efficiently. This leads to greater consumption and a higher standard of living compared to domestic production alone.

The Table Below Shows the Quantity Demanded (In Thousands) and Quantity