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International Business: The New Realities, 5th Edition
book

International Business: The New Realities, 5th Edition

by S. Tamer Cavusgil, Gary Knight, John R. Riesenberger
January 2019
Intermediate to advanced content levelIntermediate to advanced
576 pages
33h 19m
English
Pearson
Content preview from International Business: The New Realities, 5th Edition

Why Do Nations Trade?

  1. 5.1 Explain why nations trade.

Why do nations trade with one another? The short answer is that trade enables countries to use their national resources more efficiently through specialization and thus enables industries and workers to be more productive. These outcomes help keep the cost of many everyday products low, which translates into higher living standards. Without international trade, most nations would be unable to feed, clothe, and house their citizens at current levels. Even ­resource-rich countries such as the United States would suffer greatly without trade. Some types of food would become unavailable or very expensive. Coffee and sugar would be luxury items. Petroleum-based energy sources would dwindle. ...

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Publisher Resources

ISBN: 9780136763017