National Standards for 'Limiting trade**'
National Standard Number: 1
Productive resources are limited. Therefore, people can not have all the goods and services they want; as a result, they must choose some things and give up others.
National Standard Number: 5
Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and usually among individuals or organizations in different nations.
National Standard Number: 6
When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
National Standard Number: 17
Costs of government policies sometimes exceed benefits because of incentives facing voters, government officials, and government employees, actions by special interest groups, or persuing social goals other than economic efficiency.
