To obtain the greatest gains from trade, a country should specialize in and __________ those goods for which it has a comparative advantage and __________ those goods for which other countries have a comparative advantage.

Respuesta :

Answer:

export, import

Explanation:

When countries trade, they have to leverage on goods they have comparative advantage in producing.

For example if Malaysia has a very successful palm oil manufacturing industry that gives it surplus, it will leverage on this and export it to countries that need palm oil.

If Malaysia now needs petrol and it doesn't have it or producing it at home will not be cost effective, it can demand for Petro from the other country.

In this instance Malaysia is leveraging on its comparative advantage (palm oil) by exporting it. And importing goods it doesn't have comparative advantage producing (petrol).