35. What are the conditions necessary for international trade to be mutually beneficial? a) absence of fraud and coercion b) reciprocal trade, meaning imports must also generate exports c) balance of trade, meaning the value of imports must equal the value of exports d) the trading parties must have different production possibilities frontiers e) trading parties must be able to calculate their costs and benefits f) each country must be exporting the good in which it has an absolute advantage g) each country must specialize in the good of which it is the more efficient producer h) the trade does not cause some jobs to move to the other country
35. What are the conditions necessary for international trade to be mutually beneficial?
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a) absence of fraud and coercion |
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b) reciprocal trade, meaning imports must also generate exports |
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c) |
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d) the trading parties must have different |
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e) trading parties must be able to calculate their costs and benefits |
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f) each country must be exporting the good in which it has an |
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g) each country must specialize in the good of which it is the more efficient producer |
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h) the trade does not cause some jobs to move to the other country |
International trade refers to the exchange of goods and services between countries or nations. It involves the buying and selling of products across international borders and is a fundamental aspect of the global economy. International trade allows countries to access goods and services that they may not be able to produce efficiently or cost-effectively on their own.
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