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Unformatted text preview: while Country B have or have the technology to produce material B, but it also need material A. At this situation Countries will trade materials to help each other. 4. While not just producing for local need, but also for international market, the demand of a product will increase; hence the level and size of production will also increase. 5. When a product is brought into a country from another country, the local producer of similar product need to improve its products quality to compete with the foreign product. This competition will improve the quality of different products, hence benefits the consumer. In conclusion, there are many benefits of trading internationally, thats why countries are developing quicker and quicker since transnational transportation was developed....
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This note was uploaded on 12/31/2011 for the course ECON 111 taught by Professor Jerryfreek during the Spring '11 term at Ave Maria.
- Spring '11