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The basis for international trade is embedded in the principle of

Commerce
JAMB 2012

The basis for international trade is embedded in the principle of

  • A. absolute advantage
  • B. globalization
  • C. deregulation
  • D. comparative advantage
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Correct Answer: Option D
Explanation

A person has a comparative advantage at producing something if he can produce it at lower cost than anyone else. This is one of the basis of international trade

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