With which of the Ten Principles of Economics is the study of international trade most closely connected?
A)People face tradeoffs.
B)Trade can make everyone better off.
C)Governments can sometimes improve market outcomes.
D)Prices rise when the government prints too much money.

Question

Quizplus · Accepted Answer

The study of international trade is most closely connected with the principle that "trade can make everyone better off." In international trade, countries can specialize in producing goods and services that they have a comparative advantage in, and then trade with other countries for goods and services that they do not produce as efficiently. This can result in increased efficiency and overall welfare for all countries involved.

With Which of the Ten Principles of Economics Is the Study