sajivnii asked in Social ScienceEconomics · 8 months ago

Econ question?

Explain why, if specialization and trade always makes it possible to increase a country's consumption, in effect generating extra output from the existing stock of scarce resources, anyone would favour placing restrictions on trade through such means as tariffs or quotas

1 Answer

  • Oiy
    Lv 6
    8 months ago

    a comparative advantage. The specialization will increase production of goods, then lower the terms of trade.

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