Question

Because of their relatively small national economies, which of the following is most likely considered to be the most important factor for Belgium, Korea, and Canada to take full advantage of specialization?
A. division of labour
B. international trade
C. economies of scale
D. command economy

Answer 1

Answer:

The correct option is: B. international trade

Explanation:

International trade refers to the trade or interchange of goods, services and capital between countries. Therefore, this exchange across international borders can be of two types: export, import.

International trade is vital for globalisation, which gives exposure to the countries and its consumers to the various goods or products and the markets of the other countries.