________ Refers to Any Disparity in Relevant Market Information Among

question 78

Short Answer

________ refers to any disparity in relevant market information among parties in a transaction.

Identify and differentiate between goods and services traded internationally.

Apply the concept of comparative and absolute advantages in international trade and their roles in determining trade patterns.

Understand the models explaining international trade, such as Ricardian and Heckscher-Ohlin models, and their assumptions.

Analyze the opportunity costs involved in production decisions and their impact on resource allocation.