Question

ᴇxᴘʟᴀɪɴɢ ʷʰʸ ˢᵒᵐᵉ ᶜᵒᵘⁿᵗʳⁱᵉˢ ᵃʳᵉ ʳⁱᶜʰ ʷʰⁱˡᵉ ˢᵒᵐᵉ ᶜᵒᵘⁿᵗʳⁱᵉˢ ᵃʳᵉ ᵖᵒᵒʳ.​

Answer 1

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Today some countries are poorer because they started the Industrial Revolution later, if at all, than rich countries. Poor countries grow faster because they can simply adopt existing technologies whereas rich countries must invent new technology to get even richer.

Answer 2

Answer:

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Nations trade for the same reason. When poorer nations use trade to access capital goods (such as advanced technology and equipment), they can increase their TFP, resulting in a higher rate of economic growth. Also, trade provides a broader market for a country to sell the goods and services it produces.