Examlex
Airlines that engage in price discrimination charge higher prices to business travelers because their _____ is more _____ than that of other travelers.
Gains from Specialization
The increase in overall production and efficiency that occurs when individuals or entities focus on specific tasks or functions they perform best.
Comparative Advantage
The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.
World Economic Resources
It refers to all natural, human, and capital resources that are available globally which support economic production and development.
Net Exporter
A country that exports more goods and services than it imports, leading to a positive trade balance.
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