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Autarky
An economic system or policy of self-sufficiency where a country attempts to produce everything it needs without engaging in international trade.
Self-Sufficiency
The ability of an individual, community, or nation to provide for all of its needs without external assistance.
Economic Interaction
Economic interaction involves the exchange of goods, services, and resources among individuals, businesses, and governments within and across economies.
Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other competitors.
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