How do economists assess the importance of international trade to aneconomy? For the selected country, discuss the importance of trade to the country incomparison to Canada, using indicators discussed in the course. Be sure to use at least fourindicators. (Word limit: 400)Question 2 (15 percent): What are the main assumptions and predictions of the Gravity Model?For the country selected, discuss how well the Gravity Model explains the country's pattern oftrade (i.e., in terms of volume and major trading partners). (Word limit: 300)Question 3 (15 percent): How do patterns of trade based on comparative advantage differ fromthose based on internal or external economies of scale? For the country selected, discuss therelative importance of comparative advantage, and internal and external economies of scale inexplaining the country's pattern of trade (i.e., major exports and/or imports). Be sure to explaineach concept for full credit. (Word limit: 300)