Effects of unrestricted free trade

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Question 1: How do you know what type of model suits best for the situation in economics? For instance, with different types of problems, are tables better than graphs when displaying data?

Question 2: Are the effects of unrestricted free trade better than the use of trade barriers, even though with barriers resources are used less efficiently?

Question 3: Though specialization allows for people to develop skill and efficiency and develop innovation, doesn't specialization also mean that people may become bored from doing just the task they specialize in? Also, in global terms, if a country specializes in a good they have a comparative advantage in, and other countries are dependent on it, then wouldn't political events possibly disrupt trade?

Reference no: EM132428819

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