ECON 545 Week 7 Discussion; International Trade And Exchange Rates
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Week 7: International Trade And Exchange Rates 2828 unread replies.7070 replies. Do I really need a mechanic? Technically I can learn how to fix cars when my car breaks down, right? But is it efficient to do so? Maybe yes or maybe no! As we discussed in microeconomics, people are utility maximizers (always seek to gain the most possible outcome while giving up the less resources), people are rational in their choices (choose the best option available), and people are self-interested (choose what gives them the ultimate satisfaction). These concepts are also applicable to international trade.
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