Basic objective of this lecture is to presentation on Interdependence and the Gains from Trade. To Gains from Trade here need clear knowledge about Export and import. Exports means merchandise produced domestically and available abroad. To export way to sell domestically produced merchandise abroad. Imports means goods created abroad and sold domestically. To import means to acquire goods produced away. Finally briefly explain on Opportunity Cost and Comparative Advantage with graphical explanation.
Subject: Economics | Topics: Lecture, Presentation