Here are the matched economic and trade theories with their corresponding descriptions:
- When economies need to determine the best use of resources - Opportunity Cost
- Determines how an economy will benefit from trading with other economies - Comparative Advantage
- Graph showing maximum output of goods - Production Possibility Frontier (PPF)
- Economies should export goods which - They can produce at a lower opportunity cost than other economies (This might also refer to Comparative Advantage if it's considered as the statement describing an economic view).
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