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What happens to welfare when trade creation occurs?

A

Welfare falls because production switches to a higher-cost partner.

B

Welfare is unchanged because production remains with domestic firms.

C

Welfare rises because production switches to a higher-cost partner.

D

Welfare rises because production switches to a lower-cost partner.

Card 1 of 22

11.6.3 trade creation and trade diversion Flashcards

  1. Intl A Level
  2. /Economics
  3. /11.6.3 trade creation and trade diversion

22 flashcards on CIE Intl A Level Economics 11.6.3 trade creation and trade diversion: the key terms and definitions you need to recall.

Flashcards