dre speufre fechr Com he used a only os. secher The SFY assumes able 204 = PE repaoents b&imineching Re by using PF OF CLF and casuming poe is given 86 of Fop te corn clotue PPE, slope of CPF measures RPT that ameasuses te aml of F Huet has fo be pve Upto Prwoclua am acttittrenal nit of cletr. ‘ ; Re = cuqerg PF - ay > erPe= OE of =e & (ot) bout eacher Can be dre tn be He finns fo Lis Sndication MAW ac| c < ; i F Aacoming thet there is PG in bole mkt ard Hrms mysrimiae Wnaie PAP BL, dd CONE for Gk Ol he UMP cmt, tk means in each gedler prcgit monimiztal firm wilh tb op ye Being ahs VAP = cost ef emelying Haake Facker (Ly), [WHThe WAYE Hale mua be 6 e Ce Ban on ks ame ww both techs sohl le bho sect 40 because of the assumphi 4g chat a2 ad Wb mkt IR Cha wn’ = ae ine seb 8 prey ' This imply et Recocluchin point nee mex tin] (vil ovmes jut 40. 2 PF must be Aengent te 4 Une eoluaste Slepe ts of : . ' Hk were re equal Pleportimal AUP (Ih) qo Hat aeladice Om sak As om dense ples portion ao stead wope Stolle sume ameunt of dub employed Oe cack seeder, Fecey Ihe seal income of capital anaes £ lard erw7en ' fs ctactey CR serre povition a4 before f Tats explains that Aang bn 2 ex coll, et anbecee price ce 1 domet henge reat qty. on pigs bays , aemains csnsten b pie veto cenegyecleds eet cde tack WOH useable Carin 2 piel 4s Haak efpect rebeics recs Hoy “ wilt Het Lf any, 0% alo cation Pas re ee ' a Re mobi) Lob Conv) t eet V Conley De URE of Pada Henge (OE wd fpcce He 2 , relative Prue t Suppace P by 107% ua #0 Hs tot bust f dv es fs less ther te gh ele : putty fiu's TH HUME Me tab moves fom Fe ¢ sector, of BE ela Re op Botan ccm precticces (curd) This ef4eck han el of Chote » eatin cones tt asp , Yc have to Consider tie ee eof Diy latte PRE oD chachsbution of i Lantevners | OP Sorat wate hes F bet ’ eat wh yond tak Hea : TD go pest [eal & Fw oe he Tuan tn of wc irs eapenets em 2 1P< , eit ces of OF Hames ets Tag tect nme, carn seen NT yo selene pria champ on 7 aie in fe tee “seeps ob aetarie pre ts is eleginibely beblen “i re ob mre tater POT Ty cat Ky Tre Wr abs . Vii) cnonge efor’ eooblle, fo “ 1 ; iden ene feck of Fre frackt on Urtorme ctishio ation. poy bencle # aap yt dart Rely hee Pru Ghee heli fens 1 RP that coill paved Gv abso of Vgracke, Lo VAM, RA are edatamined Hy aeman'c congilyations Gul After frat , RP detained bi, old SSE RD vith fete BR RE 5 gill converge 2 de_ prow of eenennyon 4 CP 4G oy Counby, “Chany Or KE paplicahiens for _(moorne kts hribubfot ply peasal enter 3 NE Gy Pract porupite tne Pacer Hee opel: ny 1 hee foe packer speapic # imponbsate | Hue bi Daler «nfl tree Aas Imp.ti'eation for cbefibalion of theeng av if elalern trade SP outers trade polly Fe ESL, EOS 14 afpeesy Heebibod : Yano wi fe Cap oct. aie of each one fp yest on neg polsbiend ¢ uonarnyA suet DHA aun tg et TAD ( qendtity, rust vaya ra atten Tactile 7 woe ap rack wag l wil Une dut de nuspration of lob. Sf OHH < OF Me cenktay will mort. foo 1 dof cmuntry » Mie doch will Pucliace } courbes Unty forte ppwiekey fe nant wigs A courdng. Thin proars Vill umtaee he tank (ual my becemerceg seh, Fein aunat veekishi lH ehaf Whe forte Oa tas 40 earnngens fret Ong], " wold Lab 6 OD) grb tebe echt EE el Nese 40 elp & Fema moe then Tia ofp in maby 1 whem Olr ates Bhat a count Pa iinlens # sntry shat 4% capitol abun’ as oni ere eon ones jhe ¢ Ukewitt a omen “paat 18 (aber aoe god ed , nbersive geod. Ear coun exper ie a F Ht produas sulabely Geer fran fhe gen qd. G te = a 7904) AQUSY- In dtes nedil, q countrys advantaye 42 poseuactior arse pont fly pelabive packer abunde ) . ene oF OP. fn Ricerddan Mockil — oppor ty pes (AMS nf Assary bens (1) Te countries, eve coramne Libie? Ate? I of fe coun tees 0s wo # ri lian races ans nak ABE tn emtinucction volt Rico ss yo Model t capttely Sins 8, Fee and too cored BO 1 ane Lue pactert ap prouchion” 5 Lab poidcekieon assumed : boty cornmo fete sige ei tay ty procucher 9 igs emp Pte poles + pe 2 prociscect enter CAS he tpt rll 2 clout. af bolls 4 (Vf Perfect compebiicr) yn ate marke ; nes assumphier anecles ov mone polis he ond olegopolishie Mk spuckants. Te alec Thules out pase _omnet wage SA; roucties « Cac fer 5 POR % foo small fo exest pankel_ pe. and ft nat 19 bee CR, wompt” means + Alse, [2% profs: each fect fe peel accereting bo sn ecomomy Aad perpece! benewledgl« sem ancl selembral Meck FOR, wee weteak ale fala He Pie carae Feennoloyy -€0 &° i Pesan a abe rere: ed tnee (fee asumphor phuet 6 taken be fete mations. ™ ging to _ faster endoware FER ip enplacn as en untrecteds he edenhtal across counties, onsumer Peaks Ore tb means Tbs fs the demands counties _ we Pletal. BE a epasy lun | en cen, ey operecting joel ao ies ee make facesr ane same, in bot emunbler jBeeaterssn mebile witht pat tinme bile bfo He bile with’r each ceunby but tinm ce pads eounby bub HAE Lk) cam move aeress shelushres wit © acess counhies, Di means that: paces 62" Lneltetfr | raps the egualizect) he RRM RE can Mea Coder nary a sear She poyeny codnstey ONY “pn ofan relict fut pnere 1 a ene 22 fene Coculd PEST = tint thdernational elipporcnces AGS al an facle absenu of preede. (» Ne traniportatren casts, , pert Trane portation costs athe and sudmen tre practa volute mot revenge the fracke pallrn biw th counties © free tracks. Final outputs arn trecleck freely put 4 cLoes Q lonmoctities ens parked jy terms of prin factor sakensitg . Tf a hation Las fvo commock'hies “and two factors, Men one commodity coll negutre selatively more of ene facter har foe. another Commodity Ord 4hus can be sanked ta farms of K/L Aatio. ¢ lomplete Speciatiication rs mot possible. Boh mections with by producinz bole Lommedifien tren after bre de, 7 Shape of production postibilely froather+- Facker injenstly The fem, factor shtensily refers bo ure solace ‘ FoP_wseel £9 mahe © given prrducke PETE of tes anions ine curhy 2, Lx Thy, 1% ais Skbe Sk, lel Croat sf ery te se SKU 3 (ts > (Hy (Hoke 2 > Gh = So, X ty capthes cntensive VIS Copilal Dlersive YU Labor tne No Le Gate % + k XnFahy abundang ®@ rhandemce fy thr Nesoused setchness of snakiant hy ae Fact aburdana in tome of phystenl emt — dibined b Fae oat au of < Hee melabve endowment af Tiel Kav le folet L hone ave to anolteh nabion. Ng vs capibet abundant if f (= : ee ae) 1 ae Je “+ Ge anume tak Fs . J 1, ty Capel abundant 4 nai L- ebundank, a Serer Rae Papa oF : in bens a ns of packet paices:- fs capital abundant ip oof @ ae er fe. ge because copitel abundance ¢ i Ce) mr ‘ede rm ae op ‘ Ca ML Lats og tewtny pret of caprtel | in eempared fe M2. aeleahn \ Nswme XS capthet infensive and Y vs labour inkeasive => NL is capibel chundent ond io cope eat ea Se wrelatively mae of comm? K pnd aba (met ask egy ' ah sp Leabundent 4 Yo Leinkensive. Na ce? proses selec} mec of Y and ak a pees waht lock en SL x 1) since eaten assumed to ie fee saree tn bak mativne He pat names con be Pre t aw fe 1 ea caper 57 Fe : gue ot OB ad) ay Ted egal (* y akens OOF carpe eam 3) Mis is pay anetory no back ogee pratt er OT Taken come [NSN 1ee_y, (ecinersr) Buy Par Va (kona) ree A abundant arene cjakensive product and be OD aseut itil of resource or ePP Achy fpporsr sien alah te, Oi ae aie Sigposna, a aula, Sor earn nf a) 5 ont for tne eo : the ia un dafont eae mamel , 7 ema Ones aces , Pesce’ fag, anne Pity fs tose be 1 Ves co hay compet been be som CA & pw ducer of ¥ a Ove cdvantaye fa proaucoy XS Ma hes anAen (pines) Na wil cpectabine B pran of Yand al peach B , where Ui steno “BP cohen a pee _of feo nations | gpeciatze fa prod? of K amd i nh or Pas veladioe, pce Line , je we pale af OUT They exchange eit each ofeh, 7 's H oth > ng ete experk y amd Aly afte export X omel tn Pres pret Ey b wit seca ge” PLE om fG, fackor Prtee. Guakisatin Theoen- (Fr eT) In the genet -equm framework, of H-O Model, we teannt frat prite of factrs and fechnole oleter mine pre feral mmocléhy prices ond factor pricn si fond determine Pracr “nelative soppy and Lima (dd t& asumed to be gare tr bon counties J, . “In be absena of tracte , my (Lraburcant nation) att hare Lower price f qeoa Fran Mz, because Lhe Kejative pace of tab, ane tn my. Pe UA 50M Ee 0h

wh amd becca of excers : “PP'y of copitek 3 © Ih fn lab- abundant eninty, fracde Wil f Mu pria of Labour Aoi Loe pe of capital, © mn, ( kopiteet : - eel abundant), He vyerense allocation occus — med tor Mepis Ty et; aad for Lab + (evcen soppy of Ld) AOU 4 Before Tracke © apler track Nt Ne Ny Ng (Lab-abuncent) (cap - abunctent) hah a? cap nen t bo. tess wy met yor ten wor ft ul At more Ri ted ne fale 4. Rw s 9 ymlernahioral trade with cause wages to suse oe Ny (tre relatvety tow omye) foo ce Ny ( relebrvety hugh cep), teas aclnciny fre pre-race clitfomnees cq wapes bf bee foo notions Sir aE Ua Mg SB ALM, pres re oteoing cliff £0 te bf He too nations, © the tata national racks with Keep expandiin ¢ wnhy He At lative commoclity. pris Gad eet dealin area ees, = Seen . i See tn my, (tan aort) fe tat ye ae Pt ehay a(sy = gn ns Ceoprennt) —9 (SY a (rt ob, dah G): Trade based factor endowments Infernebinal, trace ol bring abouk equalera ior inthe sclahve Cand absolute) returns “fo Samopeuaes factors acress rahons, | The Hume £6 pollowiag alevectty fort H-O Phemren, 6 bs heeled i) se age a agpr ty bob abl 5 rip) (Relative y oe ee a (eke ) a a: i epee, ie teas ond ay lt aot) SP erat i ie es ( Te epibh Virani tne ol \ sry Og 10 So 1 %)y 71%) ns ( pase rapeans Sono ao ee (ein), wee @ Ls : . 2 [ony peer eee eM Cy Bye brs) [eetative price of Lab) Z me J Moe we eas tome that , i peices ane damon ee ane muglng came jecht, 60 Comrmects mp ~ far pee fen). cam soy that there ts rics ead Feccher paces 5 and hemee we Srelatieo x . amd” elatine facter pros Ws Felabire camrmetity pris . mY Hema, trade Caceres * convergence, of Atlahive prcat » Hoteewthymret-arty nelabre , dat-alie absolute “phiur—get—cqualtice de Vie i i (a= (Sly, wiser Ameyy Bint factor mobility end free trace com cubshtule. foreach other”. DIscess. Incase of fecter mobility » Fop (say labor) will move from Low wayze oarby fo Adgh wage country. gris perfect mobilthy of acter pualizes factor pra me dime, we must mole Bak counby with low w ape wth ice). tétnel east: of prrgnetton and Hertfre Companatict cost adeantazt, a procluciy goods gherepok bs wit be exportecl From tow aye bey te high ge county. Jh’s prace of goods wepualezes pruas holh counties. AL the seu of goods 0 gn Bek sense, rntrl mobrlily oF factor can substihate for free pra of po ict - Versa. : LEE met fe absilate price | pourver st must be poidded out Lhat Q % goods that an walter cl bik only. Auulerbive prices. Sime fart ao factor pices ame syuatinel amd on L)abcelule factor pate * Aloeqo uelizakion Theorem: UC to EP ET, Free pals Lessts to i) factor prow EY gpl car re rye EEE PE BP a Feladlve Prices pov A conve gente F Efjeck oF Trade on te distytbution of 0 Nolt bok Gece clemensteales that ar t th the sr elot Ve a commode daucses he Heburr ef the fader used tlenstucle an [4 photuch’on. pre. eee pre ducd (0 tn Labewr abundant medion (Ry) beeb int omen > wf, Arr. + Real Lnieme of (it (ro) Peat Tt in Re vs Real Lnuwme of capited evonehs Coe) wil b &% & In Copttaa Abundant pation (My), uy , % r aworers (x) ot TIAN, Real Lnecrne of Lab to) wil vb capitel 15 abundant facter guns from trade “4 — > Ihiefre Otwnves of a eoren bute 2, ie owes of a Ceuniryrs Seance pacer (SS: sibution of rome fron thet, Inbl trade etl cause q mede’st lhe seelab vey expensive (Scarw) fuck” Jo the nelahirety cheap (aburdant 2 pecker. Erporicel tesking of H-O Mott | won paradoye) [eH] ceenfiep assumrects Leorvectty) ung (AUD, tre 06 was abundant ty caprtel partners Tras, from HO Tesrere teonkep inbensive Foot welabve to cts dradeng expected that the OF coould export capctel fmpert — Lab- eh kensive goods — gad column shows the aunount of eat wr Lek aeedted fo proctnst qin wort of expats from impart tht, He US fo RP exports Fry qubstfabes (AS), ame Commrostt fea : tonco bilesy at # emilee te te aia "Bencon years } 182. Ed also ain parts fort oe iycomp ake lab capitetentd $Yroen) fiver $lareo what WerbeE Ans yok fovea, was Sede Ae HG imports gust fakes WoL ae oppor pad inkensive phan Os expris- pre am EL eras Aighor dhan Ne atte por OS imports able be os enparts > Thes finden um fracketled yo Theo, He@v \ mene and espn [RAL tL Te Gama) Sh sonknsh fo HO tetntef assumphan. Teqnoreel U (8) Gy poeusting only en Labour and captter 5 Lemnfief [Cgner’ abundance 9 phe US. Lantie akatted and enshithecl (0) Leonbief- sheatd have obéstingeatibed ble Jo find tele US 6 7rr™ fabour; as fF would met be cunprssiNg ail snterstve a skilad lobortr, Wy he. ay H-0 Treerert he US war not engaged usin completdy bak ; _pnberset asumds. Hos oat prokectect (nctusbies 17 is, eee EA of bo tars pseduced (mports A ‘preazareel —clomeshre prod” si in ey he capifad, die aeelich inpoctenk grote of bins oF (gamers Haman Cp" 4 . i o ; amd only phyeice capt pel aincleece a peer > once Auman capttel ts zneeperatea s ponads ces) Be sandeomige of 11-0 Nodal d oe (6) C) foitect $2 clevetep @ Wie toreipe (only PEA). 4reet ~ explains patlows of Waste only on boats of facter prep”? intensities ipnoriing craniprafin: eats > G05 ete. CY Based om oxicinpitging ansumphin s of Pe, iunbient PE, cRsete = unrcatshe BH) grate aus 5) static cetbiogg <1 atsuimes fixcel gly o{ Lo K/ PR, inume beak =p trrelerant Kh Ayosnie (0 Neglech of produck Li}feren chien an -tfeyrYrrvrvrwtreNrewrteatwsewese see ehlaekthlc hl ell ml klkHeian Gy Bee Rybeaymat Theorem: Tio grocks Claning ard Steck Tico facts (ab ard capital Be eer Leta endocwrnent & Ket hg 2 poe mete tabour encocomen eof He 4, Ope tel constraint Usa Faam & Ge = flteske) ae ~ F (ter ked Bo = Ff (tsrks ) Qk f (Us, Ks) Producker punt art assumed to be cdenbicak across earnbies seittetn 2 ' a indush Bc! Wo of Lab tes negutreel to prroturce Lunitof C (abt oupet) Gee: feof cap ai c ean eee Qs: las » s. ake: cap 2 iss BY foking- the ratios of unit factor reguivemen ts reach sndusly, 6 C7 dL ayena K/U. these natios, one jor each, ends try, Aeprusent Pre porphin Im which, factors Or used We pred” process.» ~ io > Ko: k palate ¢ prod” {Bet gatio in S prook ae L as, Tn fixed facto prsporons, xc, Wes Mes, Ag OM OM fo the el, amd are fixed. sine tre capital output § Lab- aap eee the capital Urb rabies Oe 6 Ate a aise ge ~ ae aus mod ane poweds Lunt of Hon, Quek unit ef Lab Rezuereet tole igiée procelae Te ore et of erm Ny aed Lab constraint: Ae Get Us Goal cons reine rapifal const) One Bet KS HK ies ue 2 Yas, 2-2 ete Oe ee Tau ake Heavy 2 ee aysTHe PPE 1s the Sek ef gulpue combinations thet generates fall empl’ of dboure, Ge In die Case, “por CLK. doy pb E, com siondpanceusley Jererade fait epg of BI LB Ks thus pe E yottne PPE - MA PE Is tre area bounced by pra ace and He inferter section of Lat f caps'taL conshratrt. have ascuned lab eenshratnt ae 51 capital lokrsive implies Mey Me aes 5 EE iefe)s > (He Pr reatycilewen me es” Rg He nan be capital, eonbreuint y pny; Aas chenpes Ln endowment affect tn oe nat empl t macn Paired, ks 9 a on . :. i a output of goods ore Opn uacful ch analpsbry Pe eects of eopitay i favesinent y immigzahion and emigration aiden the content of H-O Nock. L) suppose pred? occurs tathrally ak pt A om riz 2) Now suppose Herc isan thn Lab erdecnert it wil came a parallel oubeand shift tc Consbraint. $0 Hue PPF and Hur pred” wil sheft fo pt B. tu Kybery nuk pacer clemenstrates a 4 Qe (2D Prod af elobriag yee L~ inkersie jood (tob- intosire) wl f from ey fe Gp - Pood? fF Shee, jpre [E-inkenrire qeod dfem Ss) te Sp. Fun general san t fa countys endowment ef a facta wil couse an t (1 output of a geod, that Uses that factor itera and in the cute of the other qed.SST) OP Yp Paw i) : demonstrates hoo chan wh Ihe oulpab pple Affect te pow Net} decters , when positive pred? and nerd econ profel cou, sauintarmed. im each go dusty, “MIU wetal fm analysing the Pffects_on facter pes jntome cower county move auway. guom autdky fo free brace. on whom ‘tori, or Govt hegulations ape rn pose witha fre con feat of H20 tidesidh THe country suddenly opens up fo trac, Suns esitt [Facer pir ree) Changy 2 factr Pris equalization teertra pre supposes bal 46 maney, fy ponfeckt competifire. Perfect compl Cripple “0h beamane We uy fn euny tndusteg , wm oe pushy 610 ' JEU Ket PoE int = AY Bey %ky 20 (tn eketinhy 1) FC to ake BIg - Wl, -Thky =o J In trluby 297 Q 2 FoR s Lyk < O Resend, te FOP: 0,7 Mivéte fre prof po wespechve outputs, we gee pro su latierh [Pras A factor pois ae Ah - YY _ Fk, anh ~The we > f= Wd + ayy ar wie ew Mi, - Yo Wa Gee Phe = M20 + ey Sy Punt of Lite useel fe porunct ep — be Orta = anil fab a aT Pot” of c/s a Drtermat g Unite Rreardian 5 rif Stet 5 etneny cecher, _ pata Bee ly bh Maleate) dee es B= Wt Bes Rare : Dis ae t oben i Pre fal cordt™ py eae, vty Jo spiel con . zms trap < tov ale. Pece PS bt. % sm fe opece Me prcen Py i since reuters ig Is marked, ont 4 es Oe 5? we ent. cbrasde Leron qr Contition, ‘ " Th “(4ho) Sepcce, dus 2 Ay The set of alt wages and mantel aks peat tol U genes *Rebo profit 1 Ihe steel Hrcbithey ak. fnice. fy fs gover bp tne fltia black be. ie Ab wage A rantal comb? ators bre Ceres Sor fle Yue fis pl Paes Per tani! Conf carb (orrtcl occa foe prada, 4 prapif woidd be muyalireAt tombinaden " ipa a gitire. (OG Asttined te below ine pine obs fovepl * . ne wa. & Ame Ue bw + Ake. OT § Abs, Ss Levtan viding by Pe eg) aus =A Mes Va Bel haiie: ipute y 20% ET by Set Of Ney ASST OF Kane shy ae) A % — oe ; Hun Pe saise bf = B12 4 MOLT oes ow Oe. o¥ fis + Oxs= 4 = Big ft + Vhs ioe as? = 157. Gia x 1 1, een saprh ‘ Lol A Ue cho, Af fe oyemain cangharrt then & OX Ofs _ Og At hw fg musk be accompanied bY Wag = Tee et: ae oe ele Bab by S87, ator bm Pg (Ketnknsive gus!# | HynPredfeer, py SSW hnlenvve . Cssr) Woe a rane on mat wie Heder dren 190d), F,> Creve, Son s i crsAnre Inctuthy Tracke L) ane tractddrencel Peover of Cr dosed on CRG ' < ceen ties ane. F panfect el MOL, Ce rrove Hung Bhat the mew Cfo Ny has fn P a 1 aca temnidily Xk mp has eA Y, kecauag to e emalowerd wart difeent fackor proportions « Jat on ain of trade, known ces Laleg- incleatry pastes coentries willy gra lor @) corapt peek ict ieeb dead aghoulel trace coundeeg ie poallm Jock Cond endaw eourrrbies offen 2) pouertr, feacte Cb possible bfes meentsy pov thi fade bw develepet ayations «7M tape amd import within Tine gaume sectors 7s 1906 of prot js called Taba - joctuastay fracle: ne = Today fae outpak of mectiun econo] tntees tte evebainge of. cbeslinguisiel acehy of dae same dnclashy, oy broad protuck pers wba A Jamon 0h cba: chaeaby trades DD) Ce- interne) Cu-inknsive) M , ome! X Tiedt ¥y (capitol aban) iy emp Crop (baton Absuncle) acs pater of Pratt f knmon 4 tudor Uslunby practi wwilhet qeonomies of bentth phere coil be & gimaple exchange of tarnend X et hs roma, pants pre deg aeqennt” Sot oy ¥ then woe he pened $7 peyepotisficabty compl Guetusloy x Prone ance prastuceng cteyforentiated Here fe an pre ED HAL censi derable en oe france > Renaubt- gly 2 forrar’ expansion Gv thee Jopel nieniber of fer opocting@ a Leads $9 27 b pe trading cv WLoBAL Nore Le Hone fuses ab Jocwenr presa) a Here coi fate Today fer Tar) s 7 gs ee alemde (TLE spon Me aice, predicts yacting th goods belengeng +? te ee rates ( Labor or capited unfensive) ve pesrrrk & of @ nation, ap hile Heo redel preclzts fofy-IT ietiT ConPAR AVE CoO ee eR Pt OMS FOHA MET aan th ge Bete OF es tee ADVANTAGE , CL cannot predict infra-vrdudtry T78— cepeedent on feononties of gente 4 Proctuct bipjerentietier- eluate nadoel * a Stay (it)Accorcting foCLamcaster (111 )) ink TT ote compasctin Advanlage ile fotrn —hads tue po Sequcret parative advantage using Eeononnies 2f sent (ry, 3 “ce ot trouarin O inka 11. based om the ermplene secintixalion ap saestt of (nev Le while there 2 faceplate aprecabization mq taler- TT “Ae OO uk tn He aan gor att fackers of production (There fs tnorease fo welak ve tector pres r foker aT, Be semen Sater fo impen feck eorapeli white & oo mmation faces lower schon, ) aaaea4 explains ula nations wilh ovenlapping damand face and Hee ome vuole of culsounctog- fo extract ecensmies of seale bur Pakn-TT ole na erpleun” such brace , TT fs uneritata tn tne sense that the Compemactive advantage, 65 wy sai aS alone - based on fistercat Jacters on dite te establisheal, mankeb and tes ean be tne ft Teng, but Were aa _ne_ine}ftetencves 9 inken- TT meclet. Gi ante a7 deals ‘ealth explataing. tele in difjoren-teded gets ef same Undies while fokx- IT explains trade of - hemogeneaea yoods oh elifjerent fradusstry,? Ye ‘ Paglisch - spe hypothusis @ BR egqu Haak the [pRee of pee welabive mdsupactocd few 5 fo cLeveleping ceuntieh, as developing 6 ae abu exporter ef primary puducts 4 fuwcleped cations aue 4 preducens A exporters of Harupcchored gods. oT = pre sperpas Paw of Lmpt? ~gemm diFe will decline over trore | hich lends 4o cleckine (n TOT pre 1) Shey foused o7 pulsing pee casi come _9ap. bo serelped stesleny nations , duu to andl trade. 2) bevelopeing candies has Fedlad to bereget fm jecdrnical proper and haw é sag TOT have guy pore cecsrorg TTS (4 be jing cb specwalene fn fre per s or ° i cs peaadizg 0 prod of te gods () Techueel progres js mainte vencentrafed 17 jndueaty jo matfactorach goods has td ent (Q. ToT of premert geod solahre iqte centert - sar cwmnmodib es Chassital tevcol of tneugat Conprite fo Pe 00% pak by e- SD Tele (aelatie Pef pamory prcch | Tp 71 triwef primey prac 5 apo 4h ef premy prauct tom mY aes prarnpestery 3h He eas its mainly eancenend in inausby ye Aut, SReLaS fe primp prone (5/500 ; sh Masonry ott F/B x4 eins por (aelative Hie epoca) prostect emporiing oatiog noducts relative te ~ P-S says fa's cloes net eek ine TOT for per P mey actually declines -& nd ase, Weak, hid ghor Sopply side angument Ty Piebsith i lab wens Worle well in jadushialé zeol, nations fn developing mations, rene , workers au able te exbrack- ways ta fn dustrializet mahos, od Compared fo primers producing devclepiry Pe i ca ene Sfp aro ‘ ouces by jess fan pre cost of mfp goods Ye shy ane fre ne labie. supply of primer porotucds 5 shifting foe ene supply Cove, fo He dye and dhe! pralatre dey eat] tod (Agia Tet Ak © P-S, prroctuct prroctuc aes oping mabey + weak ah™ won — = stop ——> Arr (age — Demand sie argument by $19 = at on pew ond (chieme_e hs hart lew Anvorne His argument was basecl Observed that primey pranckucts Ar Tarp comm) yp vapidtyy fren tre at for say, Ts th demand fee i : Wao se be salative prt of p rh cg uealty In Relafive gevds > leacking pp ould Wat Ow Lproard shitt é leading foe wosbing of PT for clave Loprry ele t/a cutee Hat devolepory cb > Gob prebich 4 soe. acl Se Shustd (etuahiatFATE IS SAU Visarte, caked’ ome fechnoley fe 5 2 i ah (Lrnaation or mew pro? ation O Th Yeehneegecadlty ae” a ai oe —— na pus qerrs fn Crt ee process in te prs of cory sughts A Patents | @ digs, pooians aCe | f | mos decbroleyy ; y | — — Us esnquer GI Reertualtg. free pred’ eate z Hii, even he MKfs are 5) set o frdryoducecl Mun fees dee Fe labour, sts een e nme stogeeel 2S “ a cont ‘explain wus die of deokae ies a and A= ff dats rot explore Season suse ga ; eee cow be elimimated over Hime, J ‘i > Kodeti 1 An extension of fechnologecall gap erode es pene eyelet’ Ae d ——— ————_——_—_——- / 9 fermsmet er] re man = oo Ww ecornes sfondardsed + ‘ Ge produce rabies, ct ( © can be producecl with less skfUed labo f v — ( turing seis, compornbive ack. chifts fron Adeancesl ration +0 ; less— advance nations ) ) Bi bo © Phocluck Cytle’ A fecrnologueat ger! rrokel | «Teo! gap model erphasises on imitation” process jp wlile preee ote mole tnphesics 6 Sharcharela'cccts en” Prrcers . * Product Yt moll predicts thet cedanced ations wilt export mon - gterdond b highly cophisticeted new advamcecl, deesrno oye -IPS flout too rrodkels cam be veg andeal as oxfersions ema iyo model a ee poet sated” dvonts4 > Once, advanced mattort fave. mei Lbler, fh » preclucts ol b th bs , ™ et phee clus to ed ran courtier os cee clap Fe le Pim aud & imc kt 5 ray entry Frnowekny aah wedi met “Stents cenpect rane 4 aa th o Unum sey yas ale. anda OY in inne ao cinpin axis omnpanecbive adele a pwpetivly. A fedenslpin or Shand vemets ISS Produce tye Modal ( Bueatration prot? os pogeeted 3 rset: camsaenphiey Tmibah @ ibang cory en \y e Tine Predaact . ae ( matwrdly Cou ) WunTanai - specific foiff —g Advaloxm fort Focrot ef Pyotection Lectriments °f Trade polity Tmposit L belp Pie Rie but L 7 Posbial cout Approach (PEN | impork ay coun! Step Aerive Import demand (Cb) = by = Sb Gre) Fy) ceases sMegerinty sloped wecuaue a PL Hen Lows pred? bat mext oyap ble CE Pred” met by import. SHED! hestve Export PRY Cex “hy cert )h : 4 [xe =_& Pe] eave atepe an wert Pa prota oo etbon ps pocducags mae mat Consdis toe f° on te available fer txpert. SIP’ soentd gem fee xs | oboe or folat po = Tolalss [byt Op = 5454]cay Doha tp) Rosh Femelle Paaten 5 fo [7 J | Pye deed]: Plate! fo ~(atet crcl) oss f 6 $4 Dio 6s ‘ | APS 2 eat Algol Roeme ty CHE | xs ce we: | >< (age n= Impont fut fn the foum ef speatic fax fs price ef epooel 2. opsteh eS Aa Maha. fer en probing stot Bog =n een cus +0 BD tone ia cindy tf Internat peg tfnal pie, Yofect fefeu Exfeunal Pua ds 2 Ip, the etoff ufos two ts tansy? ds @ Heoteth of fis pric ehange , comumens Loses in tape 9 asl L pheclucws gets Gn addition, gevt impeciog impor teri. To cempore cost Jbenepit, if is recesny queotify en + ‘ , ' ' r & , > » ® » MYER. An te fey: Area sf sec € 5 Mensunns ata Tain Ar BD coms? ats Lech tom 2749: paectuction olisltrhion loss, bu: er su jun on Nai Pedy impoing esunby becudnu vill pie. Geren bay lel eeyan Fin id 4 toerld Pas, tha wll ke qo ToT gain qe import 8 poets tole! less of idltane Leroy ® Prohilestive tasufy 2 ophimum Jessy] » Optirnaen va marinizes net benefet oyenativ'ng fren improvemunt io countys TT against my effect exesutting fam Us volume of trade, a AMernatioety , Opfientirn wat in wot, + Fone] at which net grin fs monte eet, D Prokaue oay toy ak hth Hae Git be me tele, TED the iffnunct Bh pote ey! nema Bonin Cmahy befor trate. Twemenica) Homme (impacting) Facey Cexpert’) Gia 200-4197 [ate 160 -a0p @iz totsop lgse bot dop @vr Stfere boas Lvolame 4 racks 6 4 iperk-Fastly of od Jout Hy Imposecl then caluate Hacer os cach ened read incites sun / ~~ er ewewwuunvU.P.S.C. Deer wae ay tng hat ake op dani WMT dan ay the finpunemend in een Ben Ine ney eqyect Prese heclucliny “yy Me ushenid ey bade Te shouting, geome AAC rer braele Pp i aakon “Ur 4s Pasetp tafe 5 fhe coed fo tap te @ maximus C fe optimal faufy) and men dectivres as the FMP steeds 1h Raticed past doe oplio tac curr bante frentually Me syafion ¢ pruleed ack resend ic : q | ; \ pefols wil a prolutbiline freff 7 . penal wine dwvgsl Wo, af Mh — cpt tg te tp soul cathe py “ ; SRY IF Het a ineneases pom fp bt ceetpfere ell fal, nT FOS rowel te eeYane will fact gm nat AMY toncyy be nahienel beleo free brace, it dp, FORCE eile pro tcbdl brarke > ms sand TET gain ony adekHonal gmrease Pr be MAinal welfare @ nw, Mremains at Jarvif revert, S zero, FOC}H ctorw bpm sell spain aut sine marker sehotey epeslosriens AH eNeericeny, BLISS POINT srupies Economics (Optional) 9811343411, 9811343464 98113439387 | Hel Mus GG 9 cba Gap ema] ape nam ahah Es — OH J wool equ s YD=XS apes, @e9° We @ nes ups [oor &(pto-s) too ap - 40 ‘3 (cop = 200 ah a =~ Got Qop AE moe guns Hes tele nat Price (feJ= las, neoextenat pre (AY= 125 Wl a] Heda: Ye got BoKLIe = rac tio = G2) © Yom Cteporhing nt (teoparting erm obey) Qte 2ev-uolp, gs = 40 +4°P Gis, QL ke bais.ig4 | s ge ie | gis / | u te =1ts) Crs 1D X i ToT gatws sasx20 = S C's a Ae . Ve h Cod? aiskorhen He 4 RIOR EE SET Censh 9 gn. e We Ga ene an inprtay moh,> [bpd mi e 4° DOPL. ash+e ° foot exp oy bridy 1 - (oe are+ftry) ify] Deeb) Pek cree op aubsity =~ (aed) Cendta) | 5 + ‘ ve - “ap | ° len Proam yy ToT bss | as a- faslerhen i __— ps : a er is ancth, JelP A phic ymend a gion to a firm anak expoute gros, Yer of 66-1 Ms te intonak poe sf expert Fo BD niaie tO TP, Biewe 15 teas af CS prgensmedl by Or as oo, Sprlin tountries precuuns gain dae to heyt TP Goeth aere a Gor expel oy Subsay _ + Corsumphin cishertion hess: bh, prod elesheorhen fees ¢ ab nek Po gp Seduce enter Gi my dur do sibeiety, EP Wao reducer 42 He ty Tar fom enak fe one wih ES, wetfare of he tony us by cerambs'gont 'y [Fopont Geofa] Corl = 19" ate trpart quite C59) ecclinet reefritten 9 lf ef deme ood Shak Ly eepertect, me yesfatelion o usutty cnpased My Posing License. PP some pop et dnd ov foie. Gyenerelly eas pececa Hak oupert quiets boils dopo wp ingreosng. clomestic price babos fod Hak be gent ahooys K demeatc pre. when imports ant Laie th hat » at crifial pra , clemard xa da mushy Supply t pucta. pur to Pf fy y the is Lon 4 A Phen, To muctia te ett 2 by WwW ge aterc+ate Gain uy PS = & Empork Licence boleley gacne eateek | juste stmt = Ctad ey Ine ere ahuses lie Jo oY bho pe Meret op € Hb-e on 7 ‘ fhe pra ct YS une uhh tg tnypert LPO whicd My et wo, Kew ithe, austen clones bieatly, 2 2. = » 2 > > ) > 2 ? 2 2 4 ,eng Aetna Teede Hoaat Ca¥ 2429 mini pe ere Dove RO from setlative tutte jae fe fem Me (OD nesiadion of QS frsce PPE ce ‘eelabivess (Rs) cade explana relations Sip, bho RP Fhe quan tity coppice siyiem wom CPEs ecemommy alwcryt preci Liat tomb” hese vallse of Puast gee Marion 2ed do wf hem Dpy vat of prod gel Passiotlnd Whern Trova lve tne 1's pangent-on PPE en ada ty exenory precliias 7 clot smetatice 42 fe? me : cc hgpe aeanto (henge wemust pole Haak MS care or ve by nd Heed Bodin. «et fram Retatit Orie a sr ycikaas of feat > velit op Lr? porat aust See on ad, ax arautt, R 6 cameo POEL 4 ~ « Ge fe Pysat sth aoe ey IG) Aenre go 1s we Inet va? pont @ Cons” fe net Pe ine sens et qoste iP pererek ep arar mphen pant & Ha Aughesk pow ele the comiempler PTT oy cuteamined by tonyory maapame 27 wolf depends get EOpv . me consumphinn Datatype deen, weflese gellesing = fp) t then Fr ae | wven Ch)? guano Sinale poe or cee i foo epee ff cm (Alpe) - ® tromomy has moved lagyhar TC whidhricors exw ony 4 beltew ered, qian expertne, cole © 7 ACYap) emp oy ree coemorny seen TT part mene #4 grog ty of opert an otter , vemment alm, fu EC | © baer ee ec Yc lativety enporlet. | vee regeti at or com d (bet) 2 Ort hot Woemirceat paanchs Wass ede os | 1 Fuome- eee b net £ Be [ok bet mmanbigine'y & £2 fe map atively AUR inp sovement tr RT, eoclyane of ervrory fii sir eee tioey . wig, dos to inf 7 Soot IC fo biygh EC GRA > & mroomenf Feme™Y @ forsandda more fared 9 ley Cloth canny Pr fourice & er Co gos Ste Ld go ec ope) Cetin) f= ToT fore iorne = ae Ld) wae BP ip. . he ne on FS wee ant a Le wy le net 2929 DIPPP PP 9999Would 4qu% TA) ie’ tO) NS bend & Paftey draate, colll be de dermeined by Pnfersection og We . \ aS EKO, ° bee “ aes fee, eo % t *bohemy Kp gets oledey ny 3 mined thementy we com determine piles 4 (7) feels as well as predk” ¢ cae peta. pend Ch "ANY change Ke ewortd KP cil] eaten chonge ch precl® Elam pl Pina by Heol cane Ao coekfons on tracking world teem && bounce #4 tenrcerin or Cen over, a fe) rl Og coon pr qetes eninty ts pod Vi er bad for muy erin ty 2 @ Me tus veueesble Te $e Caehy crore ; nt Bip feceromnd gr & ROW Ti Gerd a . > 3 > a a » . a a 2 yeneally fs angued teal [eee pst eon mons o . » a , , » , » o » U The debate Hevolees carownd J 7a dey wate eecmomy © par us econ becotne it prosietes yeoukel fe oe enpord but a lhe Boe, “oil one. one ey cuen can ren it me harectits of 1 of levee po_fer we enpert Eb coulal be bite be ab okomy" FP af ges export biccug (20H) tea_werieh Ee a Aera counky + dog & esemomue Toe IS Reps oA, primey be Similar Of donde moe 2 enpet et « an fo Fredy ng dppeeand shipteon PF \Beoniinue gr wi mes fepaaleo belies or sponge Seo fay such qense dere wit te (bresed_expersten 64 elatie price 4 ceo} proctaccs then Ss coil staf to be obpete © at aaa * led RS op ot will fs, asm pete move cloth. 2 lets food , hue to um Koop tet wil be> TH meee (TET UW) fer dere a po dete te atnction yn Tar wep of cow ty de. 17 etoesnot ma Hen chetur prtete place & Home counhy orn few Gpewd. ch fovms pasccel rans on fvent ine eh Pe WEA TE, make nek country phat mations fe diene oo 4 Ting ocing Grote. (IS ahag vont!) Gepoued ates pr bey pre L leveleping woul &¢. bern eff & absence 7 frac ayect ple to J aheqabett, such advenest [Oe wadse de poe crumbles, phon 1 betpen thet the te wu fee ole to declining “ToT don ade te oeetls > > i} d , + Vand dhe will be 770 sigeicent HIE a , > > , > y , Cffectorot REE suseiey | HL Opport pond eet open ell 8 oped Coatnt me granting (a) |. bested as yy pork clemualre Bon free PUES Geum te FP ght Bo becate dy alhy COL Cees su 4 “re Tovernot qasier Mz hoverse oppor, alecr oy Tt, aa? cody producer Iva Car ony ren coal PS . A ie Teexp ot sontey Lae Gam cake de. Best Mow to fe ; . \ We ale ees una ute coanlsy uid fe: aang, ecmnnstes wa pot “| wacrld a3 Ves te RE BAAN mIYLIowad Ub tne game bee 1 entered pre ef HI ai Lead de dgurne 9 ohm : « Pood. yp o real — world Ke sofp LeEe, ‘ cmudbemanss veil ORS Guia ats Mok Th oration TH for hows y+ he afar o Sinattamanes wilt a ee dose conte V2, Capek Sahay makes q counbry word yy orecuciny its “To'l2 Ta T Eject n in plicahon of ToT eHest frees Lmpost tasift Export gabe , Tor vesue of (Patel dish of Cycome 1") The seme of [Lobe op taceme ete Bey | tarre ‘fer Fenech] po |] 4 inp cn {h impronas ide ToT oF the, expense a fH country imprses fosafy Oren ib tmp nes nn moby tt gbirrensi om jety has two fe impor bem lectus te ok ti ' fi Febcleay, Hats bectaase TOT impmucment bens fare county es taney alae ceases chisher tien of procuchion £ emsum phen + . F oe Tye ao tong a Te Yoseres ToT quer is geome mone than lon oh dishertin front foul) boas eLiveck edpek sf imuaniing ilerve price yy omperh prod fue th catioee peck Monk ToT TS hat aqeons RP (Aq 7* E RETF os. Thic TT eHeet gupesbe © Preah pesvibil ty prot impart pity meh fe lounhys ‘Tor wo much (oak O09 eff, Jari Rate cicleled, It Paloma | prea ef import ey deerow 9 TAA paradox & peor ay edz pardon « r Ons alas hamet, eeeray Okpurt subsidy GB pacte Chany ae It Auctecss TS etl | imate} = cliseey ToT On wells 1 chestert production 2 censunpher Pinefend ewekprt of home county meceareney educesaes. Howsholl } Edgeworth hew mach of He Emperk commoctity Ihe- counley climanstefer i 49 be wieiag to 42 t The oy to epey panto onmunt of ite exper! eommoctthy Mer OH come interpreta He elements of bolt dl P54: alkanetots, offen tun i emus: Pb Ses checs fet SEL eT fo enpert 4 Ab wayieves elabie leer Sen fey Shoe P “4 Ceun ty 42 Oty wre ie locus of tanclin active commodkt price cat Gohice trade eeulel tove ao ee te ee ; | Trade TC chess BoE" gikabions tek prodete dame wel{err thy Helebire eres price Is , Hae vill be cheunye 4 phy capo Lily piegr Shs shape of off cure com be explached ee forms awesth 9 sneer Upto de (gp) Is 2@ cmemrteg will prrticce nee oy bie Pens “l jot.onwe ott, hard ja buiprer (ln), comet fends fo consume Len qyot, pace fot aueulleste for eapot cle ft ass th effec , shee b thas county has yere eto 1 ub at tre seme Hime on fy pases treme of cay eo ond cloth pw of foods ph means Lede fo reckives He attile SE dency ta. “ bt benpoe dine 1 fb comume meet amt of daOy vad lable for Prt , ¢ These effects operate dimulierce g upte e cetewn Be Be elerninnks SEs b TE, Gt afta catain pre > » putto Ite, counts eff Coe bens backomets Vitae rmuest iede Pret offen cree also wepreent oor 2s clumanet ob tepoty fed cot ow af, Pastas: vipat ‘hut or perms fotal experclé i . ae 7 Ua TT ts So Hee oon 1 fn denims of ebay te ope promt and den dts Oe ected He poe. Lyn cae & pe opto TPetme » undtany ctashic ata gnelastic oda hate point: cranes Reeiprcat ate ‘ * + Simil effect fren erty or be clertvect ug while olerdving oper leo ‘t Ly of gerd on verrhiea ante b ts ee, Verner a (ot here expr | ontnen tal eet. ie Se> Bed t bet set w Bears on “Ay tee of 4 ato, s¢ ersinethes eounby 2s prttculon pint & cam, offer ot we ho Vpeete tad 416 anstewny Yy 1 Mtr CC __$_[_ 7s trhespecton . sgyRe” PSH carver of pur Coundrics ofeheynee raeend FE Ok Claes Mh trade teku place bho tents Ok beac ; I ie ie Ae ee tees cil be be a Ths cseutof pe tommy prite, te lusie aly of en bom um feet tay presence oq tommacltly pra to afar fowerts Pt tetpre Adee 2 oft Gere detrremer TOP anced. + peepee itt Ter 2% «s geutdn) ih miprocad 0: Bt | | i] + Tor Yor ferry ei] 1 he (Hers Gaero nace pawl om Oey Gwe J ToT] sidentisl a ik age ae fue fo Cro pucictee , eff} emir of 4 coun uit ee oe a oe see oll 0A? pron, © goer PPE « fo whem PPE shape tie In case of brpert bias decease with earpert 6 ia im ea [pe bo A ents import the TAT ray Syere These fore ie ot chp OP sof op emport goed Bue fo Huis staph of offer ores ” vee cot, PPE shifts mere fn direction le a ToT fer nme Country recliccrs, Em port bua pr « PPP butts tree Ob olineetten af jmport foots become Import bias green yeduces price of empert gerd go Leenory few import marc'fer omy giem quantity of Expert» a> a Le ffl Gee, Shapes 2 elie ctienw,'o]- tmperts Aan ee: qremge ToT Onprores | (ece of Umporer tera Dhem a large esunhy impose tarify em import then efjen come of large corent toil ghapt- pow arcs port axis, Cnddcatiry that ever when lasye count a 2 Hf will be able Ae Onport. epee ghy i excheu i Aaa ent olla hand, ot core trponts Jame quant Seale TOT wohahe ty eedenmuimeed «My Mposertion oY fey curve wilt irevence | ok: whether ToT th er rat olependta, om shze ef tauentry « fora. smal town try orp sing “ang AAI poo cxill he me chen Ge coortd RP fais Co beet 7 srl —- naplapele we utd mukl, Fer 4 dmat coumby, offer eumby will be Abragint Line ndceating snnall coun cant chonge external pre qatio,HH mart smmatl caurnby emit change TOT 7 HE tn ply dhact TOT pets dehonrmmed by rr mk +t bong exacotey Anat Ay Dd cB price tafe, a {Ente of Speed sedouy | Jim coat of erpord subsicly , axteronl pre + a a syeavlt do deport any pier part goods omar bry pill have fo Crpork mee as & pusult offre conve will chaft rites limchien of export ets» Parte world 2g KO ds, ToT fr er of piviny ab sel aa Pee he? a ae BeeCreucteall {_keynesion Mreenes an) fovel, re ceod wit - fir) Chruical Haory belle wes Mook feat onp Beier cays vertical AS Clwwe, Ahat shows GbP— assoctatedt willy put pe ek de fhe eee ips eck OF TE Jie newme “nterventien Fe MIG) if emp fs henizenl% f. would have a Me sarnw vy L slate of Ine cod eroplt , at each & Jar geks nesan HEY un Neal sigeort yes : 5 awe key andl fo be r«8 de pact tee fer i employ at Llassical OO? i Lap prrceter how cloman “ cope SR lick ot ee el by tH) oad ols of bsaee anges is jane inne poeple ae fo buy att of Ine ervkpud fore pees Het gn pleco perme ‘ f pe yp is tee 208 por i) pneery of nwt! © ; nb any ) seosmes poe Maney genet speak [erg eT emo Sg fluc, enh O alse dependent ‘ set A He uk. gelsene Aree bprices one rene oat OP t ) Clasicak kourists “pappose fms paved hab oh ; and — ouepul was expendi gk He ie, above ER pentck® AS; cwhcer 1S portreak- cats gee posed er fo He " peluct NKt, gustained| sporting ta 1% ee consumers , bole cause dd fo br coquefft ant Lhe snpet prt. pug P outs Pe CaM fe tCre to gone b omepel, | eel Heres gat of 2M t * Keynestem onitiyee of Cleestent a pane datenrnaieccl pret” wits tt "y Pry say’s tes # Modenn econors t propel maken OH pemete A fr off pom buy pute forms rocker > way hare 2” Trane ane mery empleyes meve™ et on cost? 5 mel an tha firs Devens ways teh he pternan ch mere eppectiveky- pan do pas moe eutput fe be producde \ 2) pryeret rete s Rane argued that reiferain apes 5 °, a, diferent pnrthenions » Retard fees much to cave | invert kspents vers have yb Hee gntowat wudey prety olecisien 6 opm ofhn facters'_(Asavings ong be tere Aegelir ameint henge puke ada, ~_ for nedirvement 5 er rt ree he for & unc ba pubow (ca, howse be) Fn as Rat ii) 4 Se en forms eapeetabiers about GDP, poits, suppliers Atsfick Ce price, vatens sertits d Neo clasicels Eeoerrr'es’ Assurphens : @ Teaple ort Arectionel ro making Chater. @ Irddiduals obj & +o max chicty , ferris obj dite max 7, @® pemple have pre amd perfect ovfo. Ln feouns of Peer'esy clasical eco Specter drat pre praef a predis tneenperdent of tts clemand» The phroctn 3S otrtn factors +58 impack 1 5S of de prootucct ars. 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