Letters of Credit as trade, guarantee and investments instruments: Identify all the parties in this document under all three different scenerios. Discuss and identify how they interact, the protections and the risks depending on the scenario of use.

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.