Examlex
Use the product-to-sum formula to write the given product as a sum or difference.
Specialization
The process of focusing effort and resources on a specific task or area of production to increase efficiency and expertise.
Trade
The exchange of goods, services, or both within or between countries.
Invisible Hand
A metaphor for the self-regulating nature of the marketplace that guides individuals to unintentionally benefit society through the pursuit of their own interests.
Adam Smith
An 18th-century Scottish economist and philosopher best known for his theories on free market economies and the invisible hand concept.
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