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How free trade relates to specialization of supply of and cost of goods?
Wiki User
∙ 6y ago
explaine how free trade relates to specialization of supply of and cost of goods
Wiki User
∙ 6y ago
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When an economy relies on specialization?
trade enables individuals to obtain the goods in which they do not have a specialization
How specialization affects international trade?
How specialization affects international trade?
How can specialization benefit two separate and diversly endowed geographic regions?
Specialization contributes to increased opportunities for trade. Specialization will make the two countries mutually dependent upon each other, for goods they don't produce themselves.
Why does specialization make trade between countries easier?
When a country is good at making their product they specialize in it, and improve the product to make more money. If another country doesn't have that but specializes in something the other one needs, then they will trade. This is why specialization encourages trade.
What did people need to grow farming settlements into cities?
To grow farming settlements into cities, people needed a stable food supply, the ability to produce surplus agricultural goods for trade, efficient transportation for moving goods and people, organized governance for managing resources and public services, as well as social structures that supported specialization of labor and economic growth.
What is the relationship between specialization and trade and changing employment partners?
specialization depends on trade that is specialization leads to mass production and hence need for market for the surplus.
What is it called when a country brings in goods it needs from another country?
It means you end up with international trade, International aid and international security treaty's,
As a result oh the Neolithic revolution what changes were in the production of goods?
The Neolithic Revolution led to the shift from a nomadic lifestyle to settled communities, allowing for more efficient agricultural practices and increased food production. This increase in food supply enabled specialization of labor, leading to the production of goods beyond just basic necessities. Craftsmanship and trade of goods flourished as communities became more structured and organized.
How free trade works?
Free trade works by having no barriers to trade that may distort the normal availability and prices of goods based on supply and demand. Free trade can be applied to more than just the exchange of services and goods between countries.
What is the ultimate result of specialization?
Trade.
What is ultimate result of specialization?
Trade.
What is most necessary for specialization for producers to take place?
Free trade is necessary for specialization among producers to take place.Free trade
