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Questions › UGC-NET › UGC-NET 2024 › Q65
2 marksInternational Economics › Theories of international trade › Specialisation and the gains from tradeHardabout 2 min

UGC-NET 2024 Question 65: Theories of international trade

Which of the following is/are not the definition of gains from trade?
A. It is the benefit individuals and countries derive from participating in international trade.
B. It is the gross benefit to economic agents that results from an increase in trade
C. It is the deduction of consumer surplus from producer surplus
D. It is the net benefit to economic agents that results from an increase in trade
E. It is the sum total of producer surplus and consumer surplus Choose the correct answer from the options given below:

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Theories of international trade has come up 151 times in 6 exams since 2006.

What this question tests

This question is on Specialisation and the gains from trade, part of Theories of international trade in International Economics.

How specialisation raises consumption possibilities, including complete and incomplete specialisation.

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