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Trade Efficiency

Explain how international trade increases economic efficiency and how trade barriers and tariffs inhibit efficiency.

© BrainMass Inc. brainmass.com July 20, 2018, 10:22 pm ad1c9bdddf

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When we consider economic efficiency, we take into consideration all of the activities that cause a maximization of the production of goods and services. In its most basic sense, international trade allows a country to trade beyond ...

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Explain how international trade increases economic efficiency and how trade barriers and tariffs inhibit efficiency.

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