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advantage occurs when a country has a cost advantage in a good over another producing country.

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Solution 1

The statement you provided seems to be incomplete. However, it appears to be referring to the concept of "Comparative Advantage".

Comparative advantage is an economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners. A c Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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_______ holds that there are advantages to trade because different countries can produce different goods more efficiently than others.

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All are advantages of foreign trade EXCEPT: People get foreign exchange Nations compete Cheaper goods Optimum utilization of country's resources

Explain the benefits of free trade as suggested by the principle of comparative advantage

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