Carefully Define the Following Terms and Explain Their Importance to the Study

question 185

Essay

Carefully define the following terms and explain their importance to the study of economics.
a.
specialization
b.
absolute advantage
c.
comparative advantage
d.
quota
e.
trade adjustment assistance

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Definitions:

Personalization

The tailoring of services or products to meet the individual preferences or needs of customers or clients.

Self-paced Online Delivery

A method of delivering educational content over the internet where learners control the pace at which they go through the material.

E-learning

The use of electronic media and technologies for educational instruction and learning activities, accessible remotely.

Synchronous

Occurring or operating at the same time; in the context of learning, refers to real-time, instructor-led training sessions where participants engage simultaneously.