Examlex
Each of the following accurately describes the Republic's administration of the Empire EXCEPT
Specialization
The process of concentrating on and becoming expert in a particular subject or skill within production or labor.
Comparative Advantage
The ability of an individual, firm, or country to produce a particular good or service at a lower opportunity cost than others, leading to a basis for beneficial trade.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision, effectively the value of the opportunity lost.
Import Commodities
Goods or services brought into one country from another for the purpose of trade.
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