How does voluntary trade promote economic progress?
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The global economy is maintained by voluntary trade, or the ability of both producers and consumers to freely determine how to buy and sell goods. ... This system gives powers to both buyers and sellers, which can be beneficial to nations with weaker economies.
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The global economy is maintained by voluntary trade, or the ability of both producers and consumers to freely determine how to buy and sell goods. ... This system gives powers to both buyers and sellers, which can be beneficial to nations with weaker economies.
All the best
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1
Businesses need to specialize to trade and be able to have profit.
Voluntary trade encourages businesses to seek lower per-unit costs by adopting mass production methods.
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