Examlex
Which of the following is the national security argument against free trade?
Private Value
The value of a good or service to an individual or firm for personal use, as opposed to its value to society or the economy at large.
Socially Optimal
A situation or outcome that is best from the society's point of view, where social welfare, including benefits and costs, is maximized.
Economic Well-being
A broad measure of the prosperity and quality of life of individuals or societies, encompassing material, social, and environmental dimensions.
Output Decreased
A reduction in the quantity of goods or services produced by a company, industry, or economy.
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