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The magnetic force F acting on a particle is given by , where r is the distance from the magnetic source and k is a constant. r is measured to be 2cm with a possible error of ±8%. Estimate the percentage error in F and r.
Free Trade
Trade that is unregulated by government tariffs or other artificial barriers; the levels of exports and imports occur naturally, as a result of supply and demand.
Consumer Surplus
The variance between the amount consumers are ready to pay for a good or service compared to the actual price they pay.
International Trade
the exchange of goods and services across international borders or territories.
Autarky
An economic system where a region or country is self-sufficient and does not engage in international trade.
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