It Is Generally Claimed That State Trading,or Centrally Controlled Trading

question 48

Essay

It is generally claimed that state trading,or centrally controlled trading will tend to reach a lower economic welfare than would be reached by allowing market forces to determine trade flow directions and terms of trade.Illustrate a counter-example to this proposition.

---

Definitions:

Null Hypothesis

The default assumption that there is no significant difference or effect, serving as the claim that the study seeks to test or refute.

F-ratio

A statistical measure used in the analysis of variance (ANOVA) to compare the variance between groups with the variance within groups.

F-ratio

A statistical measure used in the analysis of variance (ANOVA) to determine the ratio of variance between groups to the variance within groups.

Null Hypothesis

The default hypothesis that there is no significant difference or relationship between specified populations, any observed effect is due to sampling or experimental error.