Business, 18.10.2019 01:20 bangtann77

Economic theory suggests countries benefit from international trade by producing more of those good and services for which they have a comparative advantage (and less of that for which a country does not have a comparative advantage). however, countries rarely specialize completely, why?

even with international trade, countries rarely specialize completely because

a, all goods and services can be traded internationally
b, some countries would lose as a result of free trade
c, consumers in different countries have homogeneous tastes
d, some countries do not have an absolute advantege producing anything
e, production of most goods involves increasing opportunity costs.

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Economic theory suggests countries benefit from international trade by producing more of those good...

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