Section 2
Gains from Trade
Book
Version 3
By Boundless
By Boundless
Boundless Economics
Economics
by Boundless
3 concepts
![Thumbnail](../../../../../../figures.boundless-cdn.com/21168/square/key-export-markets.jpg)
Exports: The Economic Impacts of Selling Goods to Other Countries
Exporting is a form of international trade which allows for specialization, but can be difficult depending on the transaction.
![Thumbnail](../../../../../../figures.boundless-cdn.com/21167/square/key-import-sources.jpg)
Imports: The Economics Impacts of Buying Goods from Other Countries
Imports are critical for many economies; they are the defining financial transactions of international trade and account for a large portion of the GDP.
![Thumbnail](../../../../../../figures.boundless-cdn.com/21287/raw/effectoftariff.jpg)
Costs of Trade
Free trade is a policy where governments do not discriminate against imports and exports; creates a large net gain for society.