BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -International trade allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As a result of international trade, the market is more competitive. This ultimately results in more competitive pricing and brings a cheaper product home to the consumer.

Detailed explanation-2: -Lowering prices for consumers. Trade lowers domestic prices; improves resource allocation through specialization; lowers profit margins of domestic producers and increases operating efficiency of domestic firms through increased competition.

Detailed explanation-3: -International trade comes with many benefits for Americans. It lowers the cost and increases the variety of our consumer purchases. It benefits workers who make exports, as well as those who rely on imports as key inputs in their work. It helps fuel innovation, competition, and economic growth.

Detailed explanation-4: -Workers in industries that are confronted by competition from imported products may find that demand for their labor decreases and shifts back to the left, so that their wages decline with a rise in international trade.

Detailed explanation-5: -Why is international trade sometimes an opportunity for workers? A-Exporting industries create more jobs as a result of trade. B-The number of blue collar jobs and service jobs being sent overseas declines due to trade. C-Wages in import-competing industries tend to rise due to trade.