Refer to the figure below to answer the following questions.
Figure 7.2.1
The figure shows the market for shirts in Canada, where D is the domestic demand curve and S is the domestic supply curve. The world price is $20 per shirt.
-In Figure 7.2.1, international trade ________ total surplus in Canada by ________.
Definitions:
Portfolio Analysis
The process of reviewing or assessing the elements of a group of investments, assets, or products to make decisions based on performance and risk.
Strategic Goods
Products, services, or materials that are crucial to a company’s business strategy or to national security, often subject to trade controls.
Value Engineering (VE)
A systematic method to improve the "value" of goods or products and services by using an examination of function. Value, in this context, can be defined as the ratio of function to cost.
Value Analysis (VA)
is a method to improve product value by examining its function, design, and the cost of components, aiming for cost reduction while maintaining quality.
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