International trade & globalisation

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  • Created by: Ritika
  • Created on: 16-03-15 15:39

The case for international trade

Widening choice:

Closed economy- an economy that undertakes no trade with the rest of the world

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The case for international trade- widening choice

Open economy: an economy complete open to trade with the rest of the world.

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The case of international trade- specialisation &

Reasons why specialisation increases total output:

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