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Why Trade and UK Trade

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On the surface it would seem fairly silly to waste resources shipping goods all over the world when, in theory each country could simply make its own and satisfy its own consumers at the same time as providing plenty of jobs.

The reality is, however, that we are shipping more and more produce and goods around the world, for example we fly food from South America to British supermarkets, and we import door hinges from Italy. So why trade?

There are two main underlying types of trade:

  • the first in which the receiving country either cannot produce the goods in question or where they do not have enough of them (they are not "self-sufficient")
  • the second, in which they are perfectly able to produce the goods but still import them.
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