Examlex
Bits are used for computer data because they ________.
Merchandise Trade Deficit
A country's merchandise trade deficit occurs when its imports of physical goods exceed its exports within a given period.
International Trade
The exchange of goods and services between countries, driven by the differences in costs of production, resource distribution, and various other factors.
Comparative Advantage
The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors.
Absolute Advantage
The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.
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