Compared with autarky, international trade leads to _ domestic production in exporting industries and _ domestic production in import-competing industries.

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08-12-2022
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Compared with autarky, international trade leads to _ domestic production in exporting industries and _ domestic production in import-competing industries.

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contexto38 contexto38 · Answer 1 · 2022-12-15T05:43:37+01:00

International trade results in increased domestic output in exporting industries and lower domestic output in industries that compete with imports when compared to autarky.

International commerce affects the prices of consumer goods produced and sold domestically, which affects the wages of specific employees. Trade expansion leads to increased nation-level specialization in their comparative strengths, which boosts overall output and income.

Through commerce, nations may widen their markets and get access to products and services that could not otherwise be offered locally. Market competition has increased as a result of global trade. As a result, prices become more competitive, which decreases the end product's cost for the consumer.

To learn more about International trade

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Compared with autarky, international trade leads to _____ domestic production in exporting industries and _____ domestic production in import-competing industries.

Respuesta :

Otras preguntas

Compared with autarky, international trade leads to _ domestic production in exporting industries and _ domestic production in import-competing industries.