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

Q: What is your understanding of trade when referring to the exchange of goods for goods or labor…

A: Money: Money refers to anything that is widely accepted as a medium of exchange. However, money can…

Q: Describe how India and China are market economies.

A: An economic system, is a system for producing, allocating resources, and distributing goods and…

Q: When Oz land closes off to trade, it notices that the number of firms in an industry double in size.…

A: Cournet theory explains the given phenomenon while the others does not. The Cournet model of…

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: Digital trade presents an opportunity for countries to develop. What are the factors that lead to…

A: Trade is defined as the exchange of goods and services between entities or economies voluntarily.…

Q: How does comparative advantage play a key role in specialization & trade ?

A: Comparative advantage refers to the ability of country to produce the goods and services lower…

Q: Free trade gives consumers A. the right to purchase goods and services on credit. B. higher prices…

A: Free trade is defined as the trade of goods and services between different countries without any…

Q: d. What are the gains from trade? Loaves of bread Machines

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…

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: Discuss Fair Trade VS. Free Trade

A: Free trade refers to the unrestrained follow of labor, services, and goods across the country's…

Q: Who is the winners and losers from trade?  Explain with details

A: International trade refers to the purchase and sale of goods and services among businesses in…

Q: Give an example of how free trade does not always produce “winners.”

A: Free trade refers to when there are no tariffs, quotas, or other restrictions when items and…

Q: Why is fair trade better than free trade?

A: Trade: Trade refers to the phenomenon of buying and selling the commodity. A trade could be domestic…

Q: Triangular trade means: a. Trade between three continents - Europe, North America, and Africa

A: Triangular trade refers to the trade pattern that existed between three regions during the period of…

Q: What is the term for a situation in which a country can produce a good at a lower opportunity cost…

A: In international financial aspects, there are key ideas that assist with explaining why nations…

Q: explain the comparative advantage and the conditions under which it is beneficial for parties to…

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: State four arguments against free trade and describe why.

A: For every concern, there are always for and against depending upon the side of the coin you flip.…

Q: What was the role of trade in the industrial revolution?

A: In General, Industrial Revolution means the shift from labor-intensive production to…

Q: The table above shows the daily production possibilities for China and Malaysia in producing trucks…

A: According to the law of comparative advantage propounded by David Ricardo , trade is possible…

Q: how do some workers benefit from trade and others suffer?

A: Trade refers to the exchange of goods and services between different nations. When a nation is…

Q: What are the overall benefits from trade and specialisation?

A: The transfer or movement of goods and services from one country or entity to another in exchange for…

Q: From the trade model, we found that in most cases, trade creates value. Where do we see that…

A: As we know that people exchange the goods and service at certain price which is determined by…