Evaluate how trade is influenced by comparative advantage and opportunity costs.
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Explain how opportunity cost can be used to determine the product for which a nation has a comparative advantage.
Explain how incentives affect the behaviors of workers, savers, consumers and producers.
Identify leading entrepreneurs in Pennsylvania and the United States and describe the risks they took and the rewards they received.
Explain how trade may improve a society's standard of living.
Explain why governments sometimes restrict or subsidize trade.