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Trade-offs, Comparative Advantage, Market System

Trade-offs, Comparative Advantage, Market System. Chapter 2. Trade-offs , Comparative Advantage, and Market System. 1. The scarcity and OC concepts can be explained in terms of the production possibilities schedule (PPS), or curve (PPC), frontier (PPF) PPS or PPC ( PPF ) is:

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Trade-offs, Comparative Advantage, Market System