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question 23

Multiple Choice

Word Analysis. Examine the words and/or phrases for each question below and determine the relationship among the majority of words/phrases. Choose the option which does not fit the pattern.


Definitions:

Domestic Opportunity Cost

The cost of forgoing the next best alternative use of a country's own resources.

Comparative Advantage

The principle that countries or entities should produce goods and services where they have a lower opportunity cost compared to others.

Domestic Opportunity Cost

The cost of forgoing the next best alternative when choosing to produce a good or service domestically.

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