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Economics (AS & A Level) · May / June 2024 · Paper 11 · Question 26

9708The reasons for international trade

Countries X and Y both produce goods M and N. They decide to specialise and trade freely in the goods. Under which conditions are the gains from specialisation and free trade likely to be smallest?

  1. Ahigh / high
  2. Bhigh / low
  3. Clow / high
  4. Dlow / low

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Correct answer: C. low / high

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