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

Relevance
  • Oiy
    Lv 4
    3 weeks ago

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

Still have questions? Get your answers by asking now.