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Which of the following product pairs could best be considered substitute goods?
Production Possibility Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, technology).
Trade Protection
Measures implemented by governments to regulate international trade and protect domestic industries from foreign competition.
Import-Competing Producers
Manufacturers or firms within an economy that produce goods which are in competition with imported goods from other countries.
Free Trade
International trade left to its natural course without tariffs, quotas, or other restrictions.
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