Examlex
Match each item to the phrase or sentence listed below.
-Situational offender
Absolute Advantage
A condition where a country, entity, or individual can produce a good or service more efficiently than competitors using the same amount of resources.
Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost compared to others.
Minutes
Units of time equal to one-sixtieth of an hour or 60 seconds, often used to measure the duration of events or periods of time.
Comparative Advantage
Comparative advantage occurs when one entity can produce a good or service at a lower opportunity cost than another, leading to more efficient trade possibilities.
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