Question: Individuals can make themselves better off by specializing in production according to their comparative advantages, and then trading for other goods. 1. Use the concept

Individuals can make themselves better off by specializing in production according to their comparative advantages, and then trading for other goods.
1. Use the concept of comparative advantage to describe who should produce a particular good.
2. Explain why people should specialize and trade.
3. Explain how acting in one’s self interest benefits society.

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