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Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than competitors, leading to more efficient international trade.
Capital Goods
Long-term assets acquired by businesses to create goods and services; these include machinery, tools, and buildings.
Developing Countries
Nations with a lower living standard, undeveloped industrial base, and low Human Development Index (HDI) relative to other countries.
Skilled Workers
Individuals who have specialized training or expertise in a particular job or industry, often requiring formal education or apprenticeship.
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