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This is a snapshot of one of the...

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Accounting

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This is a snapshot of one of the slides used in the lectures. What does it show? If one country can make a product better and cheaper, it makes no sense to buy that product from a different country That trade tends to be beneficial for both trading partners even if one country can make every possible product cheaper and of better quality than the other Rich countries often take advantage of poor countries, ripping off all the benefits while making poor countries worse off International trade is more beneficial for poor, low-wage countries, while rich, high-wage countries tend to be left worse off Mercantile approach to international trade make rich countries reacher and poor countries poorer

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