The following are the benefits that come from trade:
A) More money in local economies
B) Greater access to job training programs
C) Increase in manufacturing
- Tariffs can be defined as a tax or duty that should be paid on the specific class of imports or exports. Higher tariffs is likely to reduce the possibility of trade between two or more distinct regions or in between distinct countries. Increase in tariffs value will reduce the demand and supply of a particular product this will reduce the trade of the product. Hence, option D) is incorrect.
- Due to trade more money is expected to enter into the local economy because the sale or purchase of a particular product will increase which will help in monetary gains. Hence, option A) is correct.
- When trade increase in the market more number of products will be available for the trade to demonstrate about the product human resource will be required this will increase the number of jobs in the market so the job training programs will increase. Hence, option B) is correct.
- Increase in trade will help in increase in production as well as supply. Hence, option C) is correct.
Hence, option A), B), and C) are correct.
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