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Range Of Prices
The range of prices refers to the spectrum of price levels at which goods or services are offered in the market, from the lowest to the highest.
Trade
The swapping of goods and services between two or more parties, within a single economy or across multiple economies.
Opportunity Cost
Giving up on possible rewards from various other options by selecting a single alternative.
Absolute Advantage
A condition in which a country, individual, or company can produce a particular good or service at a lower cost in terms of labor and resources than other entities.
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