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The Basis For International Trade Is Embedded In The Principle Of? - Erudites Academy

The basis for international trade is embedded in the principle of?

by | Dec 13 | Commerce JAMB | 0 comments

A. absolute advantage
B. globalization
C. deregulation
D. comparative advantage

Correct Answer:

Option D – comparative advantage

Explanation

A person has a comparative advantage at producing something if he can produce it at lower cost than anyone else. This is one of the basis of international trade

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