1. What are opportunity Costs? 2. Why are there increasing opportunity cost in the production possibility curve? 3. Why is the production possibility curve bowed out from the origin? 4. Why are the points outside the production possibility curve characterized as impossible? 5. Define Economic growth patterns under Globalization and increased world-wide trade since the 1980s in the US? 6. What are gains from trade, explain the positive gains? 7. Why is comparative advantage important in determining trade in the modern global economy