Prompt: International trade has been a great boon for many countries and, in general, has been more beneficial for the world than not. However, there are both costs and benefits associated with international trade. Present and discuss two advantages of international trade and two disadvantages of international trade. Organize your response in a clear and logical manner using proper economic reasoning. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English. The response must be in your own words. Do not use quotes or references. For a high score, you must properly use economic concepts and terms. o Discuss different types of market systems and the gains that can be made from trade. o Apply the concepts of opportunity cost and marginal analysis to make decisions. o Discuss the obstacles to development in developing countries and ways to address those obstacles. o Apply and discuss the fundamentals of key macroeconomic theories. o Describe how supply, demand, and other forces influence international trade. Suggested length is 1,100 words. Write your paper in an MS Word document. Use the MLA formatting style.
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