The theory of competitive advantage

The theory of competitive advantage - 3 International trade...

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1. A country gains from trading certain goods even though it’s trading partners can produce those goods more cheaply. 2. Goods and services which a country should produce and trade with other countries is the goods and services that it produces more efficiently than other countries.
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Unformatted text preview: 3. International trade leads to more efficient and increased world production 4. It results in the expansion of markets 5. It leads to growth in domestic employment 6. It stimulates the modernization and innovation of domestic companies....
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