Examlex
Which of the following is FALSE?
Absolute Advantage
A situation in which a country, individual, or company can produce a particular good or service more efficiently than another party, using the same amount of resources.
Trade
Trade involves the exchange of goods, services, or both between parties, which can be at the domestic or international level, fostering economic interaction and integration.
Opportunity Cost
The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
Export
A good or service produced in one country and sold to buyers in another country, contributing to the selling country's gross domestic product.
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