Question

Europeans purchase wine produced in California and Argentina to have more choice. The benefit of international trade that applies in this case is:

Answer 1

Answer: The benefit applied in this trade is the benefit of more availability of goods and services.

Explanation: This increased availability of goods and services help connect people across the world as consumers now have access to goods produced in other countries which without international trade would not have been known to them otherwise.

This also increases the competition not only among domestic producers but also on international level forcing comapnies to think ot of box and provide wide and uniqe range of consmer goods and services to stay relevant in the market.