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Infant-Industry Argument
A justification for protectionist policies that asserts new industries need to be shielded from international competition until they are mature and competitive enough.
Implementation
refers to the process of executing a plan, project, or method to completion.
Absolute Advantage
The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.
Exporting
The act of sending goods or services produced in one country to another country for the purpose of selling them there.
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