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Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. Theory holds that a national economy would specialize through international trade in those products that it produces relatively most efficiently. Even if it produces those products less efficiently (in absolute terms) than its trading partner, it may still prosper through foreign trade. The theory relies on several strong assumptions - including an absence of international capital mobility, a supply-constrained economy.
how distribution is arranged to provide customer service
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
what is free market?
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determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
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could the village prepare 14 campsites and grow 350 pawpaws?explain your answer.
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