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Srimoyee and Richa, who are fourth year university students, are reminiscing about their high school prom. Srimoyee enjoyed the prom, but it was not particularly important to her. For Richa, the prom was a very significant event. That was the night her boyfriend told her that he was going to break up with her because he had been secretly involved with Richa's best friend for quite a while. You would expect that Srimoyee would have trouble ____________ the prom and Richa would have trouble ____________ the prom.
Free Trade
Trade that is unregulated by government tariffs or other artificial barriers; the levels of exports and imports occur naturally, as a result of supply and demand.
Consumer Surplus
The variance between the amount consumers are ready to pay for a good or service compared to the actual price they pay.
International Trade
the exchange of goods and services across international borders or territories.
Autarky
An economic system where a region or country is self-sufficient and does not engage in international trade.
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