One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.

True/False

Question

Cuddle Pig

Geography

5 January, 15:55

One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.

True/False

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Answers (1)

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Ayanna · Answer 1

True

Explanation:

As this is related to the concept of the competitive advantages that relates to the degree of specialization that each and every country has in manufacturing the product that specializes in and trades their labor for that of the other countries higher technology or better product that is available in the market as its a prefixed cost and as a fact, the resources in the world are not equally distributed and thus their needs to be trade.

One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.True/False

One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.

True/False