According to the principle of comparative advantage which of the following explains how country V may benefit from international trade?
A . Specialisation and international trade will only be successful if tariffs are used to protect country V’s economy.
B . Jobs historically done by country V’s nationals have been off-shored to countries with cheaper labour costs.
C . Country V can specialise in exporting oil which it can produce relatively cheaply, and import goods.
D . Country V will only benefit from international trade if another country loses.
Answer: C