"The difference in National resources is the basis of international trade" analyse the statement.
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Basis of International Trade. ... The basis of international trade lies in the diversity of economic resources in different countries. All countries are endowed by nature with the same productive facilities. There are differences in climatic conditions and geological deposits as also in the supply of labour and capital.
Bases of International trade: (i) Difference in national resources: The world's national resources are unevenly distributed because of differences in their physical make up i.e. geology, relief soil and climate. ... They enter into agreement to trade specified commodities amongst them.
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