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it is possible that a nation could over produce a product and exchange it for a good that another nation has over produced. what is this arrangement called and what is its purpose/result?

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Related questions

7) If Nation 1 has an absolute disadvantage in the production of fur hats and shoes when compared to Nation 2, it is still possible that Nation 2 can move resources into the production of shoes and trade for fur hats imported from N1 and thereby make consumers in both nations better off if:

(Select 1) multiple choice

Shoes imported from Nation 2 require that relatively fewer fur hats be produced than would be the case in Nation 1.

Nation 2 can make fur hats by giving up relatively fewer shoes than Nation 1.

Nation 1 can make a fur hat by giving up the same number of shoes as in Nation 2.

In Nation 1, the relative price of shoes to fur hats is higher than it is in Nation 2, thus giving Nation 1 an incentive to import shoes from Nation 2 in exchange for relatively cheaper fur hats exported to N2.

In Nation 2, the relative price of shoes to fur hats is higher than in Nation 1, thus giving Nation 2 an incentive to export over priced shoes to Nation 1 in exchange for fur hats that cost about the same.

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Outline an economic growth plan for this nation that will give it a stable economy for the foreseeable future.

The best answers will take a systematic approach. Be sure to state any additional assumptions you are making.

Suppose that, on the basis of a nation's production possibilities curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9000 pizzas. Relate this information to the following statement: "Through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus move outside its production possibilities curve."

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