Asked by Jesse Mad3329 on Jun 01, 2024
Verified
When it is said that trade between nations can make both sides of the trade better off, this means that all citizens in each nation will benefit.
Trade Better Off
The idea that parties involved in voluntary trading are better off as they satisfy each other's needs or wants.
- Explain the impact of trade on national and individual levels, including the distribution of benefits.
Verified Answer
BM
Blake MooreJun 06, 2024
Final Answer :
False
Explanation :
While trade between nations can increase overall economic welfare and efficiency, it does not guarantee that all individuals within each nation will benefit. Some sectors or workers may face job losses or reduced incomes due to increased competition or shifts in production.
Learning Objectives
- Explain the impact of trade on national and individual levels, including the distribution of benefits.