/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q. 16 Are the gains from international... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 20: Q. 16 (page 494)

Are the gains from international trade more likely to be relatively more important to large or small countries?

Short Answer

Expert verified

Gains from international trade are more important to smaller nations than larger nations.

Step by step solution

01

Step 1. International Trade.

The exchange of goods and services across international borders or territories is called international trade.

02

Step 2. Gains from trade smaller or large countries.

Gains from international trade are more important to smaller nations than larger nations. Larger nations benefit from internal trade but the smaller nations do not have that high internal trade. The smaller nations in the absence of international trade will lose out on the benefits of trade such as economies of scale, splitting up the value chain, etc.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

In World Trade Organization meetings, what do

Do you think low-income countries lobby for?

From earlier chapters you will recall that technological change shifts the average cost curves. Draw a graph showing how technological change could influence intra-industry trade.

How can there be any economic gains for a country from both importing and exporting the same good, like cars?

Does intra-industry trade contradict the theory of

comparative advantage?

True or False: The source of comparative advantage must be natural elements like climate and mineral deposits. Explain.
See all solutions

Recommended explanations on Economics Textbooks

Taxation Economics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.