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Question
why is specialization so valuable to international trade today?
most countries only make one product really well.
it keeps the prices low on imported goods.
specialization allows people to do a more efficient job at producing what they make best and trade for the things they need.
Specialization in international trade is about countries focusing on producing what they are best at (comparative advantage). This leads to higher efficiency. When countries specialize, they can produce more of their specialized goods at a lower cost. Then, through trade, they can obtain other goods they need. The first option is incorrect as most countries produce more than one product well. The second option is not the main reason. The third option aligns with the concept of specialization (doing a more efficient job at producing what they make best and trading for needed items).
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Specialization allows people to do a more efficient job at producing what they make best and trade for the things they need.