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I need help with the 2 questions in the picture can you please use economic diagrams to explain it? 2. Explain the difference between preferential

I need help with the 2 questions in the picture can you please use economic diagrams to explain it?

2. Explain the difference between preferential trading areas and free-trade areas. HL Only [10 marks] 3. Explain three factors that might lead to a decrease in the demand for a currency. [10 marks]

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