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Chapter 21: Q.24 (page 522)

Is international trade likely to have roughly the

same effect on the number of jobs in each individual

industry?

Short Answer

Expert verified

The number of jobs depends on the structure of industries.

Step by step solution

01

Step 1. Meaning

International trade- is the trade of goods & services globally.

02

Step 2. Explanation 

International trade gives competition to the domestic market that makes more products and generates more wealth and also for exports firms produces more that increases the demand for labor & generates employment, we can say that international trade would be beneficial for an economy.

03

Step 3. Explanation 

But roughly, it depends on the industrial structure that differs the jobs opportunities, industries that produce for export purposes provides more employment and demand for goods increase, while Industries that face competition from foreign goods may face a declination of labor as demand decreases.

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