Examlex
Which combination of formula and name is incorrect?
Tariff
A tax imposed by a government on imported or exported goods, often used to protect domestic industries or to generate revenue.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and the actual price they pay.
Comparative Advantage
Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, underpinning international trade theory.
International Trade
The exchange of goods, services, and capital across international borders, driven by the concept of comparative advantage.
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