Term for Identification: Third Rome

question 30

Short Answer

Term for identification: Third Rome

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Definitions:

Law Of Comparative Advantage

is an economic principle that states countries (or entities) gain when they produce goods and services for which they have a lower opportunity cost, leading to more efficient global production.

Low-Opportunity Cost Producer

An entity that can produce a good or service at a lower sacrifice of alternative goods compared to others.

Trading Nation

A country whose economy heavily depends on international trade, importing and exporting goods and services as a significant portion of its gross domestic product (GDP).