According to classical economics, some of the benefits of international trade are that Both states will be able to increase the overall value of their production and consumption by producing primary goods in which they have a comparative advantage.
What is International Trade?
This refers to the type of trade that people from different countries engage in and this leads to import and export.
Hence, we can see that when it comes to classical economics, it is worth noting that some of the benefits of international trade are that Both states will be able to increase the overall value of their production and consumption by producing primary goods in which they have a comparative advantage.
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