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Which of the following are the main benefits of international trade...

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Business Environment and International Business
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Which of the following are the main benefits of international trade?
(1) Specialization benefits world trade as it enables different nations with differings kills and resources to gain the rewards from the division of labour.
(2) There is potential gain of economies of scale when there is good size of market.
(3) Competition is fostered by free trade.
(4) Lower prices are greater choices to consumers.

Answer & Solution
Correct Answer: Option D
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