Question

why is specialization so valuable to international trade today? a. most countries only make one product really well. b. specialization allows people to do a more efficient job at producing what they make best and trade for the things they need. c. it keeps the prices low on imported goods.

Explanation:

Specialization in international trade means countries focus on producing goods they have a comparative advantage in. This leads to higher efficiency in production. When countries specialize, they can produce more of a particular good at a lower opportunity cost. Then, through trade, they can obtain other goods they need. Option A is incorrect as most countries produce multiple goods. Option C is not the main reason; the key is efficiency in production and trade based on specialization. Option B correctly captures the essence of how specialization benefits international trade by enabling efficient production and trade for needed items.

Answer:

B. Specialization allows people to do a more efficient job at producing what they make best and trade for the things they need.