Examlex
How did the spread of the Internet affect the market for newspapers?
Law of Comparative Advantage
The principle that countries gain by producing goods and services for which they have a lower opportunity cost compared to other countries.
Specialization
A strategy where individuals or entities focus on producing a limited range of goods or services, enhancing efficiency and expertise in their domain.
Exchange
The act of trading goods, services, or currencies between two or more parties.
Trading Partners
Countries, entities, or individuals that exchange goods, services, or resources among each other.
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