140695
AssignmentMultiple Select

International Trade

Question 140695 • IL-Economics

Why do countries specialize? Check all that apply.to produce more of certain goods and services in a more efficient wayto trade with one another for goods or services they cannot provide on their ownto remain independent without having to rely on others for goods or servicesto produce more goods and services, and to contribute to greater global prosperity

Answer
A
to produce more of certain goods and services in a more efficient way
B
to trade with one another for goods or services they cannot provide on their own
C
to remain independent without having to rely on others for goods or services
D
to produce more goods and services, and to contribute to greater global prosperity

Explanation

Countries specialize by focusing on goods and services they can produce relatively efficiently, which can increase total production. They then trade with other countries for goods or services they cannot produce themselves, helping meet more needs and support global prosperity. Specialization involves interdependence, so remaining independent from others is not a reason countries specialize.

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