Examlex
Find the missing term in the proportion.
Differences in Tastes
Variations in consumer preferences that influence demand for products and services across different markets or demographics.
Resource Endowments
The natural resources, labor force, capital, and technology that a country possesses, which influence its economic potential.
Trade Gains
The benefits that countries receive from engaging in international trade, often leading to more efficient production and a greater variety of goods and services.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing an action.
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