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What is the diamond-shaped region between the lower appendages called?
Imports
Goods or services bought from foreign countries for domestic consumption or use.
Free Trade
International trade left to its natural course without tariffs, quotas, or other restrictions.
Absolute Advantage
The ability of an individual, company, or country to produce a good or service at a lower cost per unit than the cost at which any other entity can produce the same good or service.
Comparative Advantage
The endowment of a person, enterprise, or nation to output a good or service at a diminished opportunity cost relative to rival entities.
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