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Foundation
An organization established to support charitable activities, educational goals, or other purposes that contribute to the public good.
Free Trade
International exchange of goods permitted to operate freely, devoid of tariffs, quotas, or any form of restraint.
Low-Opportunity Cost Producer
A producer who can produce a good or service at a lower opportunity cost than competitors, enabling more efficient production and allocation of resources.
Joint Output
Joint output describes a situation where the production process results in two or more products being produced simultaneously from the same inputs.
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