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Absolute Advantage
A condition in which a country, individual, or company can produce a specific good at a lower cost in resources than another.
Comparative Advantage
The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.
Knitting
The craft or action of creating fabric by interlocking loops of yarn using needles.
Baking
The process of cooking food by dry heat, typically in an oven.
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