ATARMAxxing · WACE Economics revision notes
Specialisation, gains from trade, PPF and demand/supply models
Gains from trade
What this note covers
- Scarcity and the PPF
- Specialisation from comparative cost
- Consumption beyond a domestic PPF
- World-price demand and supply
- Surplus and efficiency
- Evaluating adjustment
6 sections · 10 key terms & formulas · 6 common mistakes
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