Of the following statements about trade, which is NOT true? Trade generates jobs in both export and import sectors of an economy. The gains from open trade are always greater than the losses. Open trade and investment does create winners and losers. Trade does not influence culture. Trade is the two-way flow of exports and imports of

Question

Cisco

Business

22 October, 02:30

Of the following statements about trade, which is NOT true? Trade generates jobs in both export and import sectors of an economy. The gains from open trade are always greater than the losses. Open trade and investment does create winners and losers. Trade does not influence culture. Trade is the two-way flow of exports and imports of

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Answers (1)

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Alisa Rasmussen · Answer 1

Trade does not influence culture.

Explanation:

The gains from international trade are the result of countries' specialization in the production of those goods that they have productive efficiency. Countries export these goods and import those goods whose domestic production would not be efficient compared to other countries.

With the advent of globalization, trade between countries has increased considerably. Through international trade, new goods and services are introduced into countries, including affecting leisure, culture and behavior. Thus, it is not correct to say that international trade does not influence the culture of the countries. On the contrary, international trade encourages cultural plurality.