Title: Why Nations Trade – Introduction to Business
Headings: 18
Why Nations Trade

18 Why Nations Trade
Absolute Advantage
Comparative Advantage
The Fear of Trade and Globalization
Benefits of Globalization
Summary of Learning Outcomes
Glossary
free trade

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So is outsourcing good or bad? If you happen to lose your job, it’s obviously bad for you. However, some economists say it leads to cheaper goods and services for U.S. consumers because costs are lower. Also, it should stimulate exports to fast-growing countries. No one knows how many jobs will be lost to outsourcing in coming years. According to estimates, almost 2.4 million U.S. jobs were outsourced in 2015. “Jobs Overseas Statistics,” http://www.statisticbrain.com, accessed June 26, 2017. Benefits of Globalization
A closer look reveals that globalization has been the engine that creates jobs and wealth. Benefits of global trade include the following: