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Discuss how any serious understanding of the development of European wealth must center on African colonialism.
Heckscher-Ohlin Theory
An economic theory that suggests countries export what they can most efficiently and abundantly produce.
Absolute Advantage
The ability of a country, company, or individual to produce a good or provide a service more efficiently than competitors.
World Trade Organization
An intergovernmental organization that regulates international trade by providing a framework for negotiating trade agreements and resolving disputes between its member countries.
Trade Agreements
Treaties between two or more nations that outline the terms and conditions of trade between them, possibly including tariffs, quotas, and other trade restrictions.
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