Question

Explain why economists generally argue that trade creates wealth. Whether one agrees with the view held...

Explain why economists generally argue that trade creates wealth. Whether one agrees with the view held by economists is immaterial to this question: explain the economic argument.

Homework Answers

Answer #1

trade creates wealth according to economists and this is because of the fact that trade allows the countries to exchange Technology as a result of which the productivity of the countries can increase and with the same amount of resources you can produce more apart fromreading on the basis of comparative advantage which allows you to get more goods at the similar cost as a result of which will increased at the same cost on the whole and this includes the economies of scale concept as well and that is the reason why through this it can be understood that trade actually creates wealth

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Q1: Define money and explain the important functions of money? Q2: Some economists suspect that one...
Q1: Define money and explain the important functions of money? Q2: Some economists suspect that one of the reasons that economies in developing countries grow so slowly is that they do not have well-developed financial markets. Does this argument make sense? Q3. When interest rates fall, how might you change your economic behavior? Q4: Why are financial markets important to the health of the economy? Q5: When the American dollar worth more in relation to currencies of other countries, would...
Q1: Define money and explain the important functions of money? Q2: Some economists suspect that one...
Q1: Define money and explain the important functions of money? Q2: Some economists suspect that one of the reasons that economies in developing countries grow so slowly is that they do not have well-developed financial markets. Does this argument make sense? Q3. When interest rates fall, how might you change your economic behavior? Q4: Why are financial markets important to the health of the economy? Q5: When the American dollar worth more in relation to currencies of other countries, would...
ECON 212 Spring 2017 HW 1 (Chapter 1) Case 1: Do changes in housing wealth affect...
ECON 212 Spring 2017 HW 1 (Chapter 1) Case 1: Do changes in housing wealth affect consumption spending ? From 2000 to 2006, housing prices increased sharply in many parts of the United States. The figure on the next page shows the S&P/Case-Shiller index of housing prices, which represents changes in the prices of single-family homes. As measured by this index, housing prices increased nearly 90 percent between the beginning of 2000 and the beginning of 2006. Housing prices then...
QUESTION: Why do governments typically take an unsupportive stance on countertrade arrangements? Article Below: The Bell...
QUESTION: Why do governments typically take an unsupportive stance on countertrade arrangements? Article Below: The Bell Boeing V-22 Program, a strategic alliance between Bell Helicopter, a Textron Company, and the Boeing Company,1,2 announced the V-22 Osprey tiltrotor will be featured at the Dubai International Air Show in the United Arab Emirates (UAE) from November 13 to 17, 2011. The Air Show, held biennially, is organized in cooperation with the government of Dubai, the Department of Civil Aviation, and Dubai International...
Question 1) Which of the following are considered valid criticisms of the legalistic model of crime...
Question 1) Which of the following are considered valid criticisms of the legalistic model of crime and criminology? a. Law in action departs substantially from the ideal behavior of the law. b. Focusing only on legally criminalized behavior makes it impossible to consider the impact of gender, race, age and ethnicity. c. Legalistic definitions ignore acts that cause great harm. d. The legalistic model suggests that these are absolute standards for judging right and wrong. e. All of the above....
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths...
Buddies is a charitable organization that sponsors group activities and provides adult companionship for troubled youths from single-parent families. Buddies screens, trains, motivates, and supervises the adult volunteers, who are paired with children referred by local agencies and by parents concerned with their children’s future. The organization provides a service that can augment any professional help a child may be receiving. But its main role is one of prevention by providing a meaningful adult relationship for a child before the...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT