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.

---

Definitions:

Timurid Dynasty

A Central Asian dynasty founded by Timur (Tamerlane) in the 14th century, known for its contributions to Islamic art and architecture.

Persian Painter

An artist specialized in traditional Persian miniatures and painting styles, known for intricate details and vibrant colors.

Córdoba

A city in southern Spain known for its rich Islamic history, exemplified by the Mezquita, an iconic mosque-cathedral showcasing the blending of Moorish and Christian architectural elements.

Embroidered Textiles

Textiles adorned with designs sewn onto the fabric with thread or yarn, often showcasing intricate patterns or imagery.