Illustrate what major arguments in case for income equality

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Reference no: EM1367426

Q. 1. Illustrate what are negative externalities and positive externalities? How do they affect supply and demand curves?

2. Illustrate what are major arguments in case for income equality? Illustrate what are major arguments in case for income inequality?

3. "Possibility for gains of trade is due to fact that different countries face different resources endowments, production costs and geographical locations." Interpret and expand with examples.

Reference no: EM1367426

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