Why do countries trade, and what benefits do they receive from trading? Give two examples of benefits you receive from international trade.

Trade increases competition and reduces global prices, which gives consumers the benefits of increasing the purchasing power of their own income and leading to an increase in consumer surpluses. Trade breaks down domestic monopolies, which face competition from more efficient foreign firms. The two examples of benefits you receive from international trade are Increased revenues, decreased competition etc.

Countries trade because somethings that are produced in other countries are not or can not be produced in certain countries. The benefits of trading is a increase in sales of certain products and also the benefit of new never used products that people can try.

Explanation:

took the journal assignment and got it right