Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

Chapter 1 - Part I - Ten Principles of Economics - Questions for Review - Page 17: 5

Answer

Trade is not a game of winners and losers because a trade is always a benefit to both sides. There is no country that will go into a trade that will make their country lose out on resource or supply. A trade will benefit both sides by gaining what they will need.

Work Step by Step

To put it simply, you will only accept a trade with another person if it is of benefit to you. Otherwise, you will not accept the trade.
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