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Explain why comparative advantage rather than absolute advantage lies behind the principl

 Explain why comparative advantage rather than absolute advantage lies behind the principles of specialization and trade.

 

135) Explain why, if specialization and trade always makes it possible to increase a country's consumption, in effect generating extra output from the existing stock of scarce resources, anyone would favour placing restrictions on trade through such means as tariffs or quotas.

Dec 07 2019 Read more Less More

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