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andreev551 [17]
2 years ago
12

______________ can enable trading partners to consume more than they can produce domestically.

Business
1 answer:
klasskru [66]2 years ago
4 0

Trade between two agents or countries allows the countries to enjoy a better total output and level of consumption than what would have been possible domestically.

<h2>What exactly does specialization mean in global trade?</h2>

Instead of manufacturing all consumer items independently, countries with a propensity toward specialization trade certain products for other commodities.

Countries create an more than the product in which they specialize and exchange it for another country's surplus good.

A import barrier is what?

Barrier to trade. Anything, like a tariff, quota, or embargo, that slows down or stops one country from trading products with another.

change in value. the rate of exchange between the currencies of two different countries.

Learn more about trade:

brainly.com/question/17727564

#SPJ4

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