Globalisation and free trade.
Task 1 Comparative Advantage
The basic model of comparative advantage is a static analysis of the production possibility frontier (PPF) curves of two countries that produce two goods. It measures the increase in output due to specialisation and trade. The model implies that free trade will benefit both countries. In the global economy, comparative advantage is dynamic and involves many countries and many products; therefore it is difficult to measure whom, actually gains from free trade …
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…pg 34-48
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