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Sodium chlorate, an ingredient in many common herbicides, has sodium, chlorine and oxygen atoms in the ratio 1: 1: 3, respectively. What is the formula unit for sodium chlorate?
Comparative Advantage
Comparative Advantage is an economic theory suggesting that countries should produce and export goods for which they have a lower opportunity cost compared to other countries.
Opportunity Cost
The forgone value of what you give up when you make a choice.
Total Output
The aggregate quantity of goods and services produced within an economy over a specific period, reflecting the economy's overall productivity.
Comparative Advantage
The ability of an entity to produce a good or offer a service at a lower opportunity cost than another.
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