Question

Senator Bright, who understands economic principles, is trying to convince workers in her district that trade with other countries is beneficial. Senator Bright should argue that trade can be beneficial
a) only if it allows us to obtain things that we couldn't make for ourselves.
b) because it allows specialization, which increases total output.
c) to us if we can gain and the others involved in the trade lose.
d) in only a limited number of circumstances because others are typically self-interested.

Answer 1

Answer:

b) because it allows specialization, which increases total output

Explanation:

Specialization is when a nation or individual concentrates its productive efforts on producing a limited variety of goods. It oftentimes has to forgo producing other goods and relies on obtaining those other goods through trade.