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MULTIPLE CHOICE Which of the following is NOT true about trade?   Trade will cause expansion in...

MULTIPLE CHOICE

Which of the following is NOT true about trade?  

  1. Trade will cause expansion in the export-oriented sector.  

  1. Trade will cause contraction in the import-competing sector.  

  1. Trade occurs because of similarities in the availability of factor inputs across countries and differences in the proportions of those factors that are used in producing different products.  

  1. None of the above.

Please explain. Thank you!

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Answer #1

ANSWER:

The correct answer is option c that is Trade occurs because of similarities in the availability of factor inputs across countries and differences in the proportions of those factors that are used in producing different products as trade depends upon the price and availability at a rate in which both the trading partners are happy with in terms of both exports and imports and so trade depends upon these factors as well as other factors related to relations between governments but it doesn't depend upon similarity of factor inputs and differences in proportions.

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