A trade occurs when a nation exports less than it imports. [Choose ] A trade occurs when a nation exports more than it imports. [Choose ] The basic concept of protectionism and is the same. [Choose ] is the first dynamic theory to account for changes in the patterns of trade over time. [Choose ] The ___theory proposes nations will develop comparative advantage based on their abundant local factors. [Choose ] The theory of industries takes domestic demand conditions into [Choose ] account. The theory allows free market forces to determine how much to trade with minimal government intervention. [Choose ] [Choose ]