GLOBAL ECONOMICS INTERNATIONAL BUSINESS
Global economics international business: Absolute Advantage-make more. Opportunity cost. Inside PPF-under civilization. Opportunity cost is constant if it is a straight line. The slope of trade line=price they chose to trade at Gains from trade=outside PPF. Comparative Advantage-opportunity cost, who can do it cheaper. Producing on PPF, consuming outside. Not a zero-sum. Person max. Their material […]
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