With trade:

Question

With trade:

Quizplus · Accepted Answer

All of the given choices are correct. Trade allows for countries to specialize in producing the goods in which they have a comparative advantage, leading to increased efficiency and production. As a result, there is a higher level of welfare, an economy can specialize in the production of fewer goods which it can produce at a comparative advantage, and a movement to a higher production-possibilities frontier. This ultimately allows members of an economy to consume more of all goods.

With Trade