Which of the following is a principle of international trade?
A)German workers will not work without Union representation.
B)International trade hurts many countries since it is basically unfair to developing nations.
C)International trade increases worldwide production by specialization.
D)Exchange rates are determined by the Hague Convention.
E)Bribery drives up prices in world trade.

Question

Quizplus · Accepted Answer

International trade increases worldwide production by allowing countries to specialize in the production of goods and services in which they have a comparative advantage. This specialization leads to more efficient global production and is a fundamental principle of international trade.

Which of the Following Is a Principle of International Trade