International trade benefits all parties from "summary" of Principles of Economics by Saifedean Ammous
International trade is a fundamental concept in economics that has been proven to benefit all parties involved. When countries engage in trade with one another, they are able to specialize in the production of goods and services in which they have a comparative advantage. This allows each country to allocate its resources more efficiently and effectively, leading to increased productivity and economic growth. Furthermore, international trade allows countries to access a wider range of goods and services than they would be able to produce domestically. This leads to increased consumer choice and lower prices for consumers, as countries are able to take advantage of economies of scale and lower production costs. Trade also fosters c...
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