The Simple Trade Model Demonstrates That Countries Can Expand Consumption

question 179

Essay

The simple trade model demonstrates that countries can expand consumption by specializing in the production of goods and services in which they have a comparative advantage.In reality we do not see complete specialization in production.State three reasons why this is case.

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Definitions:

Tympanic Membrane

A thin membrane that separates the external ear from the middle ear and vibrates in response to sound waves; also known as the eardrum.

Oval Window

Structure of the middle ear that conducts sound from the middle ear to the inner ear.

Tympanic Membrane

The thin membrane that separates the external ear from the middle ear, commonly known as the eardrum, and vibrates in response to sound waves.

Sound Vibration

The oscillation of air particles caused by a vibrating object, which can travel through mediums such as air or water to produce sound.