2006-12-03 06:46:47 · 5 answers · asked by gavin h 1 in Social Science ➔ Economics
The more international trade a country has the better its ecconomic performance is likely to be...;
2006-12-03 07:00:19 · answer #1 · answered by huggz 7 · 1⤊ 0⤋
Due to the allowance of international trade, individual countries will be able to specialise in producing a product in which it has comparative advangate (or has the lowest opportunity cost in producing). Because of specialisation, they will product more of the good in question. If two countries specialise, and then trade, they will benefit from a consequent significantly higher number of units of goods.
2006-12-03 20:20:06 · answer #2 · answered by Haopei 2 · 1⤊ 0⤋
More Trade = Better Economy
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2006-12-03 17:52:01 · answer #3 · answered by Zak 5 · 0⤊ 0⤋
Positively correlated. Exports enable a country to import what it most needs for its development. An export oriented market economy is the most favourable you can get for ensuring that your own country's businesses are competitive not only in the world market but also in your own.
2006-12-04 12:17:38 · answer #4 · answered by MBK 7 · 0⤊ 0⤋
The relationship is as related as Ricardo and others see it ("comparative advantage")
2006-12-04 12:44:12 · answer #5 · answered by seesunsuf 3 · 0⤊ 0⤋