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Importers And Exporters
Entities engaged in the business of buying goods from foreign countries for local resale (importers) and selling domestic goods to foreign countries (exporters).
Absolute Advantage
a condition in which a country, individual, or firm can produce more of a good or service with the same amount of resources than others can.
Resources
Inputs used in the production of goods and services, including labor, capital, and natural resources.
Exchange Rate
How much one currency is worth in terms of another during exchange.
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