A fundament in understanding of trade patterns is that there appears to be a trade-off between the use of production resources in a country (access to resources is thought of to be limited).

a.Please explain the concept of production possibilities frontiers (PPF), and why does it matter in international trade?

b.What are relative prices and why do they matter in explaining trade patterns?

c.Please explain the concept of comparative advantage of nations, in words or graphs, and why it can explain cross-border trade? Please use the concept of opportunity cost in your explanation and indicate which direction the trade will flow given the comparative advantage.

This is the course for international trade theory.

I would really appreciate it if you can give assistance for me