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BUSINESS ENVIROMENT

SECTION 1

International trade can describe as the exchange of goods and services between two or more countries. International trade brings much advantage such as low production cost, like when a country is buying goods at a cheaper rate from another country. It will reduce their production cost because they will stop or reduce the production of those particular goods

International trade serve some country as a major source of income like china that depends on trading with most countries for their major source of revenue

Comparative advantage

Comparative advantage exist when a country has lower opportunity cost over another country in production of goods for example china can say to have comparative advantage over Vietnam because its produce more finish goods at a cheaper cost than Vietnam. Comparative advantage is good to all countries involved.

A country can gain comparative advantage by specializing in a particular product which they are......

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Approximate Word Count: 1286
Approximate Pages: 6 (250 words per double-spaced page)

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