By specializing in an activity that one does relatively better than other activities, one can trade with

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By specializing in an activity that one does relatively better than other activities, one can trade with others and gain more than if one carried out all activities oneself.

This additional amount is referred to as gains from trade.

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Fundamentals Of Economics

ISBN: 9780618992676

4th Edition

Authors: William Boyes , Michael Melvin

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