Illustrate Qualification in International Trade
Illustrate Qualification in International Trade?
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1. A nation can avoid the output limits of its domestic Production Possibilities through international specialization and trade.
2. Specialization and trade have the same effect as having more and better resources of improved technology.
Mutually beneficial exchange is probable whenever relative production costs vary previous to trade, is a manner to state the law of: (1) Positive profits from trade. (2) Comparative benefit. (3) Specialization and Division. (4) Purchasing power parity
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