Figure 3-6
The production possibilities frontiers below show how much Greg and Catherine can each produce in 8 hours of time.
Greg's Production Possibilities
Catherine's Production Possibilities 
-Refer to Figure 3-6. Is it possible for Greg and Catherine to gain from trade? Defend your answer.
Definitions:
United States, Canada, and Mexico
These are countries in North America, often referenced together in the context of trade agreements or geographical proximity.
Free-Trade Agreement
A pact between two or more nations to reduce barriers to imports and exports among them, fostering international trade.
Tariffs
Taxes imposed by a government on imported goods, often used to protect domestic industries from foreign competition.
Quotas
Limits set by governments on the quantity of goods that can be imported or exported over a certain period.
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