The number of consumers who lose from freer trade is small, but the loss for each consumer is large.

Question

Quizplus · Accepted Answer

The statement is incorrect because freer trade typically results in lower prices and a wider selection of goods for consumers, benefiting a large number of consumers. The individuals who might lose from freer trade are usually specific groups of producers or workers in industries facing increased foreign competition, not consumers.

The Number of Consumers Who Lose from Freer Trade Is