Documents Chapter Scarcity and Choice 2. Chapter How People Interact Principle 5: Trade can make everyone...

A Parable for the Modern Economy Two goods: meat and potatoes Two people: rancher and farmer If rancher produces only meat And farmer produces only potatoes Both gain from…

Documents Interdependence and the Gains from Trade

A Parable for the Modern Economy Two goods: meat and potatoes Two people: rancher and farmer If rancher produces only meat And farmer produces only potatoes Both gain from…