Question: Match each term to the correct definition. Question 6 options: Trade Productive Efficiency Outsourcing Comparative Advantage Consumer Surplus 1. When production occurs in a foreign

Match each term to the correct definition. Question 6 options: Trade Productive Efficiency Outsourcing Comparative Advantage Consumer Surplus 1. When production occurs in a foreign nation rather than the domestic nation. 2. When two or more persons/nations engage in exchange by their own free will. 3. A point on the PPC, representing the maximum production possible from a given amount of resources. 4. When persons/nations can produce at a lower opportunity cost when compared to a trade partner. 5. The value obtained by a buyer when he/she pays a certain price and receives a higher benefit

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