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Explain the basics of how a market system works

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Reference no: EM131633569

Please answer all the questions to the best of your abilities, don't leave any blank.

1. Explain use of production possibilities frontier to analyze opportunity costs and trade- offs.

2. Describe comparative advantage and explain how it serves as the basis for trade.

3. Explain the basics of how a market system works.

Reference no: EM131633569

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