Exam (elaborations)
ECON 1B03 Chapter 2 questions and answers
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ECON 1B03 Chapter 2 questions and answers
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1-24 of 24Economic contraction
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Shift to the left.
- emigration
- natural disaster
, What determines the best an economy can do?
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Resource endowment and technology
How to determine how much you should trade for?
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If I have an OC of 0.5 for a good, and you have an OC of 1 for that same
good. I need to make more than 0.5 to gain, and you need to make less
than 1 to gain. So we find a number between, like 0.75 to 1.
if im trading gum to you for snickers, then it would be 1 gum for 0.75
snickers
what happens to PPF if negative impact on y sector only
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rotates in on the y axis, x stays
Comparative advantage
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