Examlex
The _____ buys and sells on their own accounts and assumes all the responsibilities of exporting a product.Manufacturers do not control sales activities.
Production Possibilities Line
A curve depicting all maximum output possibilities for two goods, given a set of inputs.
Trading Possibilities Line
A graphical representation showing the combinations of goods that a country can produce or trade given the resource constraints and technology.
International Trade
The exchange of goods and services between countries.
Domestic Production
It refers to the total value of all goods and services produced within a country's borders in a specific time period.
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