Describe how opening up to international trade affects the following: supply or demand for the particular good, the competitiveness of that good’s market, and how the change in competitiveness affects equilibrium price and quantity.

International trade can have big effects on domestic markets.

For both an import good and an export good

Describe how opening up to international trade affects the following:
supply or demand for the particular good,
the competitiveness of that good’s market, and
how the change in competitiveness affects equilibrium price and quantity.

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