Why do nations trade?

Answer 1

Nations trade because it allows them to obtain goods and services that they cannot produce themselves or that are cheaper to import than to produce domestically. Trading enables countries to specialize in producing the goods and services they are most proficient in, resulting in increased efficiency and productivity. By trading, nations can also expand their markets, increase competition, and access a wider variety of products at lower costs. Additionally, international trade helps to create mutually beneficial relationships between nations and can promote economic growth and development.