Answered: Commodities exported and imported by…

Commodities exported and imported by each nation constitute the trade; C: gains from trade; D: pattern of trade). (A: basis for trade; B: losses from

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Commodities exported and imported by each nation constitute the
trade; C: gains from trade; D: pattern of trade).
(A: basis for trade; B: losses from

Expert Solution

Step 1

When talking about exporting and importing of goods and services between countries , it can be said that exports and imports are made in international market when an individual is required to go back home.

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8
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C