Which of the following is a reason for many developing countries to open their economies to free trade?
A)Domestic producers do not recognize their potential losses.
B)Customers do not recognize their potential gains.
C)The government lacks political will to remove impediments to development.
D)Consumers and firms are aware of the products and technology available abroad.
E)The potential winners from free trade remain largely unaware of the gains from trade

Question

Quizplus · Accepted Answer

Consumers and firms in many developing countries are aware of the products and technology available abroad and seek access to them. By opening up to free trade, they can benefit from imports of these goods, leading to increased competition, lower prices, and improved quality. This can result in overall economic growth and development.

Which of the Following Is a Reason for Many Developing