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Timmy can edit 2 pages in one minute and he can type 80 words in one minute. Olivia can edit 1 page in one minute and she can type 100 words in one minute. Timmy has an absolute advantage and a comparative advantage in editing, while Olivia has an absolute advantage and a comparative advantage in typing.
Interpret
To explain or provide the meaning of something, often involving analysis or understanding of context.
Individualism
A social theory favoring freedom of action for individuals over collective or state control.
Performance-orientation
A focus on achieving high standards, efficiency, and excellence in task outcomes and individual performance within an organization or team.
Socialism
A political and economic ideology advocating for public or collective ownership of the means of production and distribution of goods.
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