International Trade Models. ECN 3891 International Economics - Honors. Why Nations Trade. International trade provides us with a variety of goods and services from other countries; International trade promotes specialization and efficiency in production; and
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International Economics - Honors
Production Possibilities Frontier (PPF) shows all possible combinations of two products (Consumer Goods and Capital Goods) that a country can produce with available technology and full employment of all resources.
An Indifference Curve represents all combinations of market baskets that provide a consumer with the same level of satisfaction.