Explain how trade between these three producers

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Reference no: EM13893260

1. Suppose you live on an island that produces three primary goods that are produced by three individuals as follows:

(a)Oranges Orange Grove Owner

(b)Bananas Banana Grower

(c)Chocolate Chocolate Maker

2. In this island economy, the (a) Orange Grove Owner likes only bananas and the (b) Banana Grower only likes Chocolate. Furthermore, the (c) Chocolate Maker only likes Oranges.

1. Explain how trade between these three producers can occur.

2. Will the Orange Grove Owner be able to eat Bananas? Explain.

3. How will introducing “money” into the island economy benefit these three producers?

Reference no: EM13893260

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