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International trade may make some individuals in a nation better off, while other individuals are made worse off.
International Trade
The exchange of goods, services, and capital between countries or territories, influenced by comparative advantage, tariffs, and trade agreements.
Better Off
Refers to a situation where an individual's or group's economic situation or welfare has improved.
Worse Off
A situation in which an individual or group is in a less favorable or disadvantageous position compared to a previous state or to others.
- Investigate the consequences of trading activities on economic well-being and the implications for diverse interest groups.
- Gain insights into the factors that influence whether trade is favorable or unfavorable for individuals or nations.
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Learning Objectives
- Investigate the consequences of trading activities on economic well-being and the implications for diverse interest groups.
- Gain insights into the factors that influence whether trade is favorable or unfavorable for individuals or nations.
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