Question

specialization and trade can have both costs and benefits. read the following statements about the effects of international trade. then sort the effects into costs and benefits. some people may lose their jobs because the goods they make are cheaper to produce in other countries. competition between countries drives down prices, so goods and services become less expensive for people to buy. countries are more connected, so people have access to new ideas and technologies. countries with fewer resources struggle to compete with countries that have more resources. costs benefits

Explanation:

• Costs: Losing jobs (due to cheaper production elsewhere) and resource - poor countries struggling to compete are negative impacts.
• Benefits: Lower prices (from competition) and access to new ideas (from increased connectivity) are positive impacts.

Answer:

• Costs:
• Some people may lose their jobs because the goods they make are cheaper to produce in other countries.
• Countries with fewer resources struggle to compete with countries that have more resources.
• Benefits:
• Competition between countries drives down prices, so goods and services become less expensive for people to buy.
• Countries are more connected, so people have access to new ideas and technologies.