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Which of the following is a microeconomics question?
World Production
encompasses the total output of goods and services by all economies across the globe over a specific period.
Self-Sufficient
The ability to fulfill all of one's needs without relying on external assistance.
Comparative Advantage
The ability of a country, individual, company, or region to produce a particular good or service at a lower opportunity cost than others.
Absolute Advantage
The ability of a country or firm to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.
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