Benefits from Trade Would NOT Include

question 24

Multiple Choice

Benefits from trade would NOT include

• A) lower prices.
• B) less competition.
• C) more variety of goods and services in the market.
• D) the ability of producers to specialize.
• E) more employment for the country.

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Definitions:

Price Changes

Alterations in the selling price of goods or services over time due to various factors like supply and demand, inflation, or production costs.

Consumers

Consumers are individuals or groups that use goods and services generated within the economy to satisfy their personal needs and desires.

Jointly Owned

Pertains to a property or asset that is owned by two or more parties, with rights and responsibilities shared among them.

Mutual Benefit

A situation or transaction that is advantageous to all parties involved.