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  • 24-05-2020
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Explain the importance of specialization in regards to trade.

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XxAdelinexX XxAdelinexX
  • 24-05-2020

Answer:

When nations specialize, this exchange creates gains from trade. The benefits of specialization include a larger quantity of goods and services that can be produced, improved productivity, production beyond a nation's production possibility curve, and finally, resources that can be used more efficiently.

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