WORLD HISTORY

Detailed explanation-1: -Specialization involves focusing on a specific skill, activity, or production process, such as a South American company harvesting bananas, to become the leader or expert.

Detailed explanation-2: -Answer and Explanation: Countries specialize in the production of goods for which they have a comparative advantage. Reason: The comparative advantage theory states that a country should produce the goods in which it has comparative advantage. This will promote innovation and specialization in the production of goods.

Detailed explanation-3: -Glossary. absolute advantage when one country can use fewer resources to produce a good compared to another country; when a country is more productive compared to another country gain from trade a country that can consume more than it can produce as a result of specialization and trade.

Detailed explanation-4: -The main types of trade barriers used by countries seeking a protectionist policy or as a form of retaliatory trade barriers are subsidies, standardization, tariffs, quotas, and licenses.