Protective tariffs
Trade barriers.
The international division of labor
International trade Apx
International Trade
Labor specialization led to a diverse West African economy. How?? I need a reason why.
Trade barriers.
The international division of labor
International trade Apx
International Trade
Labor specialization led to a diverse West African economy. How?? I need a reason why.
trade enables individuals to obtain the goods in which they do not have a specialization
Increasing specialization within the global economy depends on several factors, including advancements in technology that enhance communication and transportation, allowing for more efficient production and distribution. It also relies on the comparative advantages of countries, where nations focus on producing goods and services that they can create most efficiently. Additionally, trade policies and international agreements facilitate the exchange of specialized products, further driving specialization and interdependence among economies.
it makes it more efficient
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
Specialization increases an individual or groups productivity (and income) according to the principle of comparative advantage.
Its Global.
The most domi The most dominant areas in the global economy include: nant areas in the global economy include: