Gains from specialization and trade apply to:
A) both countries that trade.
B) only the country that imports a product.
C) only a country that exports a product.
D) only trade in cloth.
E) only trade in machines.

Question

Quizplus · Accepted Answer

Specialization and trade benefit both countries involved in the trade because each country can focus on producing goods in which it has a comparative advantage, leading to more efficient production and consumption for both.

Gains from Specialization and Trade Apply To