Which of the following statements correctly summarizes a difference between the layperson's view of trade and the economist's view of trade?
a. The layperson typically views trade as a zero-sum game, where one country's gain is another's loss, while economists see it as mutually beneficial for all parties involved.
b. The layperson often focuses on the immediate impact of trade on jobs and industries, while economists consider the long-term benefits for overall economic growth and efficiency.
c. The layperson may prioritize protectionism and preserving domestic industries, while economists advocate for free trade and competition to maximize consumer welfare.
d. The layperson's view of trade is often influenced by emotional and patriotic factors, while economists approach trade with a more analytical and rational perspective.

Q&A Education