Examlex
The term ________ means standard or rule for judging, and its plural form is ________.
Absolute Advantage
The ability of a country, company, or individual to produce a good or provide a service more efficiently than competitors.
World Trade Organization
An intergovernmental organization that regulates international trade by providing a framework for negotiating trade agreements and resolving disputes between its member countries.
Trade Agreements
Treaties between two or more nations that outline the terms and conditions of trade between them, possibly including tariffs, quotas, and other trade restrictions.
Comparative Advantage
The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than others.
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