http://gametheory101.com/courses/international-relations-101/
If states can make some products but not others, trade inherently makes sense. But what if a single state is better at making everything? Is trade still sensible? Surprisingly, it is. States can still specialize in what they are comparatively better at making and reap the benefits from trade. This helps explain why international trade is so pervasive and why states try so hard to promote free trade agreements.
Continue this lesson in the app
Install CourseHive on Android or iOS to keep learning while you move.
