International trade has been said to promote economic growth, increase choices, and reduce costs for consumers. Pick a service industry and develop a narrated PowerPoint presentation. Include the following information:
What types of trade have you observed affecting the industry?
Does the industry benefit, or is it negatively affected by international trade?
Who are the “winners” and the “losers” from the transactions?
Should society take action to ensure the “losers” benefit in some way from the trade transactions? Why or why not? If action is to be taken, what should it be? How would it improve overall welfare?