Gains from Trade: Definition & Example

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Gains from trade are the:

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1. By entering into trade, a country may reach a point ________ the Production Possibility Frontier.

2. The gains from trade are best materialized when a country specializes in producing what:

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Quiz & Worksheet Goals

This quiz/worksheet combo can help you assess your understanding of principles behind trade. You will be quizzed on topics such as gains from trade and the Production Possibility Frontier.

Quiz & Worksheet Goals

This quiz/worksheet combo can help assess your knowledge of:

  • Gains from trade
  • The Production Possibility Frontier
  • Opportunity costs

Skills Practiced

This quiz/worksheet combo can be used to help you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related trade lesson
  • Information recall - access the knowledge you have gained regarding gains from trade
  • Making connections - use understanding of the concept on gains from trade

Additional Learning

To learn more about gains from trade, review the corresponding lesson Gains from Trade: Definition & Example. This lesson will help you:

  • Calculate opportunity costs
  • Review examples of comparative advantage and gains from trade
  • Define comparative advantage
  • Learn about the Production Possibility Frontier
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