Question

All countries benefit from trade. If they did not, they would not trade. Based on this week's Reading Assignment, apply what you know about International Trade theory and respond to the following.
Do you think the benefits from trade are shared equally among trading partners?
Do you think everyone within a country benefits from trade?
Explain why and why not?

Answer 1

The idea of international trade is one of the factors that binds the world together. Trade between nations fosters peace and brings about, wealth creation, Cultural diffusion and inclusiveness.

What is International trade?

International trade refers to the exchange of goods, services and other commodities between countries of the world.

     International trade is possible because, goods and services produced in one country is needed by citizens of other countries.

  The idea of international trade is beneficial to both countries involved in such trade. It creates a long supply chain starting from manufacturers, logistics, middle men, and local traders.

 This supply chain created benefits both the sellers and the buyers and this creates employment opportunities in both countries.

It is important to note that not everyone within a country may benefit directly from international trade, however, it can be said that everyone will benefit indirectly because the proceeds from such trade affects the GDP of both countries and this brings about prosperity especially when trade is not one sided.

Learn more about International trade at brainly.com/question/15115779

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