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a. What are the gains to be derived from free trade?  b. Illustrate, with the use of diagrams, and discuss the gains from free trade.  c. Clearly explain and illustrate the gains from exchange and the gains from specialization.

a. What are the gains to be derived from free trade?  b. Illustrate, with the use of diagrams, and discuss the gains from free trade.  c. Clearly explain and illustrate the gains from exchange and the gains from specialization.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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a. What are the gains to be derived from free trade? 

b. Illustrate, with the use of diagrams, and discuss the gains from free trade. 

c. Clearly explain and illustrate the gains from exchange and the gains from specialization. 

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Students can identify Two gains of free trade and explained clearly. Graphs showing gains from free trade are drawn and correctly labelled with all the gains correctly and clearly identified. Show clear graphical depiction of gains from exchange and gains from specialization with clear explanations, referencing graphical movements or shifts.
Transcribed Image Text:Students can identify Two gains of free trade and explained clearly. Graphs showing gains from free trade are drawn and correctly labelled with all the gains correctly and clearly identified. Show clear graphical depiction of gains from exchange and gains from specialization with clear explanations, referencing graphical movements or shifts.
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