Posted: September 16th, 2015

Economic Principles.

As you have learned , economics is about allocating scarce resources among competing uses. One of the core principles is that voluntary trade benefits all participants to the trade. If this principle is so basic and intuitive, why then have governments resisted trade between countries? In what ways do governments restrict trade? Why is trade between countries different from trade within a country — such as, workers moving from one state to another for employment, or goods being manufactured in one state and sold in another?


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