3. explain one way in which increased international trade improved the standard of living for both Americans and Europeans. (5 pts.)

International trade enables specialization, which brings increased efficiency and greater competition to spur the market.

This happens because Specialization would make each nation to focus on producing certain type of products in which they would gain a competitive advantage towards other (either because they had the necessary materials sources or labor qualities) and would create better and cheaper product in the market.

social contract theory, nearly as old as philosophy itself, is the view that persons' moral and/or political obligations are dependent upon a contract or agreement among them to form the society in which they live