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JAMB Economics 1991 Question 40

Question 40

International Trade

One of the advantages of international trade is that it

  1. A.increases world output
  2. B.encourages economic independence among nations
  3. C.restricts spread of technical knowledge
  4. D.promotes self-reliance and satisfaction with only what can be produced internally
Show the answer and explanation

Answer: A (increases world output)

Explanation

Trade lets each country specialise where it has comparative advantage, so total world output rises.