Problem
YouTube Video: "International trade: Absolute and comparative advantage"
Based on your review of the content in the video, discuss why countries sometimes trade goods with one another. Think about the advantages and disadvantages of trade. As the video notes if one country can produce goods better than another country why would it still trade with that country? No apply the reading from this week and think about how Tariff's can impact trade. Why do some countries decide to protect certain goods and products and encourage domestic production of those items rather than see them being traded for even if another country can produce the item more efficiently? If you were in charge of your home country what products and industries would you put tariffs on to protect domestic industries and supplies from international trade partners give reference to your answers.