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Hammurapi's Law Code dates to which century bce?
Production Possibility Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.).
Free Trade
An economic policy that allows imports and exports between countries with minimal or no tariffs, quotas, or other restrictions.
World Price
The worldwide cost of a product or service, set by the conditions of international supply and demand.
Domestic Price
The price of goods or services within a particular country, unaffected by international market variables.
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