Question

International trade a. raises the standard of living for importing countries and lowers it for exporting countries. b. raises the standard of living in all trading countries. c. leaves the standard of living unchanged. d. lowers the standard of living in all trading countries.

Answer 1

International trade raises the standard of living in all trading countries.

Explanation:

International trade is an inter country exchange of goods and services. Globally, exporting offers people and countries the ability to be exposed to goods and services that are not available in their nations, or that would cost more domestically.

Global trade allows countries to make more effective use of their resources–whether labor, technology or money. International trade usually enables countries to concentrate on those markets in which they can be most competitive and effective. In this way, international trade generally raises the standard of living of both producers and consumers.