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Solve.
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Comparative Advantage
The proficiency of an entity, whether it's an individual, corporate body, or state, to create a good or offer a service at a more economical opportunity cost than its competition.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing a particular course of action.
Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to more efficient global production patterns.
Specialize
The process of focusing efforts and resources on a narrow area of expertise to increase efficiency and proficiency.
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