Which of the following statements is CORRECT?

Question

Quizplus · Accepted Answer

International trade can result in both winners and losers. While trade can increase the efficiency of global production and benefit consumers through access to cheaper goods, it can also negatively impact domestic producers who face increased competition. It is important to consider both the benefits and drawbacks of international trade before making policy decisions. Option A is incorrect as international trade is often associated with higher global production due to increased specialization and efficiency. Option B is also incorrect as tariffs typically reduce international trade. Option C is too broad a statement and does not take into account the specific circumstances of different producers and industries.

Which of the Following Statements Is CORRECT