Asked by
Amilia atmaja
on Nov 17, 2024
Verified
When a country allows international trade and becomes an importer of a good, domestic producers of the good are better off, and domestic consumers of the good are worse off.
Domestic Producers
Domestic producers are individuals or companies that produce goods or services within their home country's borders.
Domestic Consumers
Individuals or households within a country that purchase goods and services for personal use.
- Evaluate the division of profits and expenses among producers and consumers within a nation that partakes in international trade.
- Identify how trade can potentially improve the economic well-being of a nation.
Verified Answer
KJ
Learning Objectives
- Evaluate the division of profits and expenses among producers and consumers within a nation that partakes in international trade.
- Identify how trade can potentially improve the economic well-being of a nation.
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