Meaning: 'Otherwise' means 'in a different situation' or 'if not,' suggesting that without international trade, the availability of goods and services would be limited.

Wrong options:

• either: The word 'either' is used to present a choice between two options, which does not fit the context of contrasting availability.
• thus: 'Thus' indicates a conclusion or result, which does not align with the idea of contrasting availability of goods and services.
• likely: 'Likely' suggests probability, which does not convey the necessary contrast in this context.

Correct answer: result

Explanation: The word 'result' is appropriate as it indicates an outcome of international trade, fitting grammatically and contextually within the sentence structure that discusses the effects of trade on market efficiency.

Meaning: 'Result' refers to an outcome or consequence, indicating that international trade leads to a more efficient market.

Wrong options:

• prelude: 'Prelude' refers to an introduction or preliminary event, which does not fit as it does not describe an outcome of trade.
• degree: 'Degree' refers to a level or extent, which does not convey the idea of an outcome or consequence in this context.
• delegation: 'Delegation' refers to a group of representatives or the act of assigning tasks, which is unrelated to the outcome of international trade.

Correct answer: cheaper

Explanation: The word 'cheaper' fits grammatically as it describes the type of products brought to consumers, aligning with the context of competitive pricing resulting from international trade.

Meaning: 'Cheaper' means lower in price, indicating that international trade allows consumers to access products at more affordable prices.

Wrong options:

• newer: 'Newer' refers to something that is more recent, which does not relate to pricing or affordability in this context.
• all: 'All' implies totality, which does not specifically address the pricing aspect of products in relation to international trade.
• novel: 'Novel' means new or original, which does not convey the idea of affordability or pricing in this context.