Theoretically, specialization and trade is beneficial for society because: It guarantees a trade surplus among trading partners More goods and fewer services will be produced globally O Specialization and trade lessens the burden of scarcity All of the above D Question 4 In economic terms, absolute advantage means: A nation has suffered a trade deficit A nation has achieved a trade surplus O A nation can produce a good at a lower domestic opportunity cost than its potential trading partners O A nation can produce more than its potential trading partners