What does the term economies of scale mean

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Q1. What does the term "economies of scale" mean?

Q2. Define "opportunity cost." Explain "comparative advantage" in terms of opportunity cost.

Q3. Why are workers in industrialized countries more productive than those in developing countries?

Q4. What are some arguments against free trade per this documentary?

Q5. What is the infant-industry argument?

Q6. Differentiate between import-substituting industrialization and export-oriented industrialization. Which approach has been more successful? Why?

Reference no: EM13214405

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