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Define the points of individual choices makes and interact.
A. How individuals make choices:
• Scarcity
• Opportunity cost
• Trade-offs
• Marginal analysis
B. How individual choices interact:
• Trade
• Gains from trade
• Specialization
• Equilibrium
• Efficiency and equity
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discus the various measures that may be taken by a firm to counteract the evil effect of a trade cycle
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