Question: Question 26 (10 points) (2 concepts, 5 marks per concept, 2x5=10 marks) Choose 2 of the following concepts and define in the context of the

Question 26 (10 points) (2 concepts, 5 marks per concept, 2x5=10 marks) Choose 2 of the following concepts and define in the context of the textbook of this course. Indicate which concept you define at the beginning of each answer. Prebisch-Singer hypothesis Transfer pricing Commodity terms of trade Functional distribution of income

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.