Countries need to trade because--------. Select one: a. world resources are unevenly distributed among countries b. world resources are evenly distributed among countries c. all products are made from the same combinations of resources d. all products are produced from the same technology

Q: Which of the following is international trade? a. Trade between regions b. Both (b) and (c) c.…

A: International trade is very beneficial for the economy of a country because it influences the GDP of…

Q: Free trade is an issue of one country. What are its: a. Strength b. Weaknesses c. Opportunities d.…

A: Free trade, also called laissez-faire, a policy by which a government does not discriminate against…

Q: Determine the opportunity cost for each nation. Determine what each nation has a comparative…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: What Is International Business?

A: International business refers to any circumstance in which commodities or services are produced or…

Q: In the United States, about 6 million manufacturing jobs disappeared in the first decade of the 21st…

A: Import and export restrictions are not present in a free trade system. A free trade agreement is a…

Q: Some Basic Facts about Trade?

A: Trade is a basic concept in economical activity, trade is defined as the exchange of goods and…

Q: Write a short synopsis of Texas’s changing economy and its role in international trade.

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: explain why trade occurs among the countries?

A: International trade is the exchange of goods and services between countries.

Q: Why do nations fight trade wars? What are their goals?

A: A trade war is a confrontation between nations over economic issues. As a result, trade barriers are…

Q: Which is not a benefit from specialization and trade? Multiple Choice World output is increased. The…

A: In a market, specialization refers to the situation when a firm tries to improve itself and produces…

Q: The North American Free Trade agreement consists of which of the following countries?Choose one…

A: North American Free Trade agreement popularly known as NAFTA, is a multilateral trade agreement…

Q: Which of the following statements is true?    a. Shifts toward freer trade are responsible for the…

A: A strategy in international commerce known as "free trade" aims to lower restrictions on the free…

Q: Using economic analysis, evaluate the statement that some gain, or "win" from free trade while…

A: Free Trade  Free Trade refers to the trade between 2 or more nations without any restrictions and…

Q: assist please Which of the following statements best exemplifies the concept of relative advantage…

A: The objective of the question is to identify which statement best represents the concept of relative…

Q: International economic law

A: The legislation and behaviour of governments, global organisations, and private companies engaged in…

Q: Countries that trade on the basis of comparative advantage have __________ than countries that do…

A: Comparative advantage refers to the ability of the country to produce the product at a lower…

Q: Your roommate Hansen argues that American producers cannot compete with foreign producers because…

A: Free Trade refers to the unrestricted exchange of goods and services between countries, without the…

Q: Suppose that Bangladesh, a relatively poor, agricultural nation with a low level of technological…

A: 1. The answer is - d. Enhanced flow of ideas

Q: 1. Trade patterns a. How big is world trade today in percentage of world GDP? b. When did world…

A: Gross domestic product (GDP) is the standard measure of the value added created through the…

Q: A common fallacy that is used to oppose trade is the idea that   a. “if it’s not broken, don’t fix…

A: International trade is considered beneficial for the countries as they can receive what they want…

Q: What are the benefits gained from trade? Calculate and show them.

A: An economy possesses a comparative advantage in the production of a good or service if it can…

Q: Focus on a current media source that narrows in on issues of Free Trade between the the United…

A: Free trade refers to a trade strategy that doesn't confine or restrict the imports or exports. All…

Q: xports of goods is a strategy for international companies. Which of the following is not a…

A: Disclaimer : “Since you have asked multiple question, we will solve the first question for you. If…

Q: What is protection and free trade

A: Protection and free trade are two contrasting strategies to international change and financial…

Q: What are some of the major trading regions?

A: To identify some of the major trading regions.

Q: A country will gain relatively more from trade when: A. trade is regulated. B. the world price is…

A: This can be defined as a cost that shows the type of cost that an individual, business, or any other…

Q: Explain what is the pattern of trade, by giving examples.

A: Trade patterns. Long-range path of a security or product future cost, diagrammed by defining one…

Q: Discuss the pros and cons of free trade.

A: Although free trade and the effects of tariffs on the global economy are hotly debated topics, they…

Q: Alexandra’s Production Possibilities Schedule Natalia’s Production Possibilities Schedule Number of…

A: A country or a person exports the good in which it has a comparative advantage.

Q: Which of the following is NOT a potential benefit of international trade? A. Increased consumer…

A: The issue requires distinguishing which option among the given four is unquestionably not a probable…

Q: What are the  pros and cons of free trade.

A: Free trade refers to the trade that is free from all artificial barriers. It signifies a…

Q: What one country sells to another

A: International trade between two countries is simply the selling of goods and services from one…

Q: What would someone who supports protectionism likely say? A. The United States should end tariffs so…

A: Answer: Correct option: C  Explanation: Protectionism refers to the restriction of international…

Q: . The mercantilists maintained that: a. Trade benefits one nation only at the expense of another…

A: Mercantilists were of the opinion that the country should always be in a Trade surplus that is the…

Q: T/F  International trade can leads to a better and efficient product for the people.

A: The given statement is True statement.  International trade  leads to many benefits not only for the…

Q: What are the benefits of free international trade?

A: Free international trade is always a controversial topic with different views.

Q: Trade based upon comparative advantage is economically beneficial because: a. it promotes an…

A: Comparative advantage is a principle where countries specialize in producing goods and services they…