Economics
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International Trade
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Economics

Section 2

Gains from Trade

Book Version 3
By Boundless
Boundless Economics
Economics
by Boundless
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3 concepts
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Exports: The Economic Impacts of Selling Goods to Other Countries

Exporting is a form of international trade which allows for specialization, but can be difficult depending on the transaction.

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Imports: The Economics Impacts of Buying Goods from Other Countries

Imports are critical for many economies; they are the defining financial transactions of international trade and account for a large portion of the GDP.

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Costs of Trade

Free trade is a policy where governments do not discriminate against imports and exports; creates a large net gain for society.

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