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Country A specializes in electronics and trades with Country B, which specializes in agriculture, leading to lower prices for consumers in both nations.
Country C imposes high tariffs on imported textiles to protect its domestic industry from foreign competition.
Country D decides to become self-sufficient, producing all goods domestically without engaging in trade.
Country E and Country F agree to a trade deal that results in increased tariffs on each other's goods.
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Specialization and Trade
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