Question

Name and describe one of the Ten Principles of Economies.

Answer 1

Trade can make everyone better off.

When a trade happens between two parties then both parties get mutually benefited. In case of a trade between two countries both the countries get benefited because one country will be specialised on one particular product and another will be specialised on another which will help them share their product in which they are specialised in so they both get mutually benefited. When we talk about trade it is not about it a one sided gain, it is a gain for both side opposite of some sports competition where only one side wins.

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