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IV. INTERNATIONAL TRADE 4. Suppose a capital abundant country, such as Italy, enters into free trade with a natural resource rich country, such as India.

IV. INTERNATIONAL TRADE 4. Suppose a capital abundant country, such as Italy, enters into free trade with a natural resource rich country, such as India. (i) Explaintheformoftrade,suchas,whoexportswhatandimportswhat,usingtheconceptof comparative advantage in trade theory. Identify each country's comparative advantage and disadvantage. (ii) Does trade create winners and losers within each country? Explain how

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