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A diagram is a good example of a(n)
Comparative Advantage
Comparative advantage is an economic principle that describes the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.
Opportunity Cost
Opportunity cost refers to the value of the next best alternative that is foregone when choosing one option over another.
Ice Cream
A frozen dessert made from dairy products, sweeteners, and flavorings, enjoyed as a treat or snack.
Apple Pie
A traditional dessert made from apples and pastry dough, often seasoned with cinnamon, sugar, and sometimes butter, and baked until golden brown.
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