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More jobs in areas of comparative advantage

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More jobs in areas of comparative advantage

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Increases business opportunities

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higher unemployment especially for lower skilled workers which can then increase the gap between the rich and the poor

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cheaper imports

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more options for consumers

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more competition, reducing prices of products

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Less tax revenue for governments

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cheaper products for consumers

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increased international competiveness

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higher quality goods/services

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lowered price of production

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lowers trade barriers

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lower costs of productions allows for lower goods and services, lowering inflation

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Better quality items and consumers get more of a choice

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product costs are cheaper overseas so we can get cheaper products

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increases Australia's unemployment rate