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Instructions: Explain why a particular gain/loss/n.p./n.b.e occurs.

A satisfactory answer will:

  • state what the relevant definition of well-being is for the group I pick in that exact model;
  • explain what the basis for trade is in that model;
  • then explain what happens when trade starts;
  • clearly connect that change to the definition of well-being to show why the answer you choose was a gain or a loss;
  • must be written in full sentences, use relevant key terms, and use the key terms correctly.
  • 6 years ago
  • 15
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