Question: 1. Explain the Philippines' absolute and comparative advantages (if there are any) over other countries in the region in the area of economic development. 2.

1. Explain the Philippines' "absolute" and "comparative" advantages (if there are any) over other countries in the region in the area of economic development.

2. How does trade benefit everyone involved? Explain.

3. Assess the view that privatization of industries can have a big or little impact to national development.

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