International trade enables specialization, which brings increased efficiency and greater competition to spur the market.
This happens because Specialization would make each nation to focus on producing certain type of products in which they would gain a competitive advantage towards other (either because they had the necessary materials sources or labor qualities) and would create better and cheaper product in the market.
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Answer:
fait money
Explanation:
Fiat currency came about when governments would mint coins out of a valuable physical commodity, such as gold or silver, or print paper money that could be redeemed for a set amount of a physical commodity.
The term Globalization, describes an ongoing process by which regional economics, societies, and cultures have become integrated through a globe-spanning<span> network of communication and execution. The term is sometimes used to refer </span>specifically to economic globalization: the integration of national economies into the<span> international economy through trade, foreign direct investment, capital flows, migration,</span>and the spread of technology.<span>However, globalization is usually recognized as being</span><span> driven by a combination of economic, technological, sociocultural, political, and</span><span> biological factors.
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