It Is Possible That Trade Based on External Scale Economies

question 5

Essay

It is possible that trade based on external scale economies may leave a country worse off than it would have been without trade. Explain how this could happen.

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Definitions:

Memory Improvement

Techniques or strategies aimed at enhancing an individual's ability to remember information.

Cognitive Therapies

A form of psychotherapy that focuses on changing faulty or distorted thinking patterns, beliefs, and attitudes to improve emotional and behavioral problems.

Metacognitive Skill

This refers to the ability to think about one's own thinking processes and strategies, and to adjust them accordingly for more effective problem solving and learning.

Cognitive Ability

refers to the mental capacity to reason, plan, solve problems, think abstractly, comprehend complex ideas, learn quickly, and learn from experience.