A logical starting point from which the study of internationaltrade begins is a.

Question

A logical starting point from which the study of internationaltrade begins is a.the recognition that not all markets are competitive b. the recognition that government intervention in marketssometimes enhances the economic welfare of the society. c.the principle of absolute advantage. d. the principle of comparative advantage. A logical starting point from which the study of internationaltrade begins is a.the recognition that not all markets are competitive b. the recognition that government intervention in marketssometimes enhances the economic welfare of the society. c.the principle of absolute advantage. d. the principle of comparative advantage.

Explanation / Answer

d. the principle of comparative advantage. The whole point of international trade is to increase one'sefficiency. If one country is realtively better at producingsomething (lower opportunity cost) and without aboslute advantage,it would be best for all for that country to produce that onegood

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