Specialization Based on Absolute Advantage Leads to Gains from Trade

question 88

True/False

Specialization based on absolute advantage leads to gains from trade.

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Definitions:

Retention of Deposit

The act of keeping an advance payment or security deposit until certain conditions are met, typically used in leasing or contracting scenarios.

Custom-Made

Specifically designed and made to an individual's specifications or requirements; tailor-made.

Enforceable Agreement

A legally binding contract that can be upheld and compelled by law in a court of justice.