Browse Items (21 total) Browse All Search Items Collection: Economic Ideas Page of 3 Next Page Sort by: Title Creator Date Added Marginal Utility - Formal Theory Marginal Utility - First Mention Comparative Advantage Under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage. Five Functions of Economic Systems Pareto-Optimality Trade Diversion Trade flow is diverted from actually cost-efficient partner state to less efficient one Trade Creation Trade flows are redirected due to the formation of a free trade area or a customs union. Mercatilism Maximize the exports and minimize the imports for an economy Government Subsidies Economic Growth Page of 3 Next Page Output Formats atom, dcmes-xml, json, omeka-xml, rss2