contestada

The nation of farmland forbids international trade. In farmland, you can exchange 1 pound of beef for 2 pounds of pepper. In other countries, you can exchange 1 pound of beef for 4 pounds of pepper. These facts indicate that

Respuesta :

These facts indicate that Farmland has a comparative advantage, relative to other countries, in producing beef.

What do you mean by International trade?

International trade  can be defined  as the exchange or trade of goods and services between different nations. Adam Smith gave the international trade theory It helps in contributing and increasing the world economy. It includes export, import and entrepot. It is important in order to increase economic growth,   raise living standards and help families to use affordable goods and services.

Features of International trade are

  • Create Heterogeneous Markets
  • Connect nations
  • Maintain BOP

To know more about International trade from the given link

https://brainly.com/question/14926566

#SPJ4

Otras preguntas