A Benefit of Trade Is That It Permits Two Parties

question 81

True/False

A benefit of trade is that it permits two parties to specialise in those tasks in which they have the highest productivity.

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Definitions:

Software Makers

Individuals or companies that develop, create, and sometimes distribute software applications or systems, contributing to the technology and information sectors.

Industrial Policy

Industrial policy encompasses strategies and policies employed by a government to stimulate or regulate different sectors of its economy, aiming at enhancing competitiveness and economic growth.

Prime Objective

The main goal or target an individual, group, or organization aims to achieve.

Domestic Industries

Sectors of a country's economy that produce goods or services primarily for consumption within the same nation.