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Fernanda Beiza
on Nov 17, 2024

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Which is the most accurate statement about trade?

A) Trade can make every nation better off.
B) Trade makes some nations better off and others worse off.
C) Trading for a good can make a nation better off only if the nation cannot produce that good itself.
D) Trade helps rich nations and hurts poor nations.

Trade

The exchange of goods, services, or both between entities or regions.

Rich Nations

Countries with high levels of income per capita, advanced technological infrastructure, and a standard of living significantly above the global average.

Poor Nations

Countries characterized by low levels of income, limited industrial development, and often a low Human Development Index (HDI), facing challenges such as poverty, disease, and low life expectancy.

  • Appreciate the value and benefits of engaging in trade and specialization for individuals and economic systems.
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Faisal AlfahadNov 21, 2024
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