Explain how trade affects the production of goods and services in different regions.
Describe how economic systems in the Eastern Hemisphere address the problem of scarcity.
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Give examples of international and regional differences in resources, productivity, and costs that provide a basis for trade.
Describe the factors that lead to a nation or a region having a comparative and absolute advantage in trade.
Explain why nations sometimes restrict trade by using quotas, tariffs, and nontariff barriers.
Explain effects of domestic policies on international trade.
How do different economies control the means of production and distribution of goods and services?