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Explain what is meant by the term group polarization. Discuss the features of group discussion that contribute to polarization.
Comparative Advantage
The ability of a party to produce a particular good or service at a lower opportunity cost than others, enabling trade benefits.
Absolute Advantage
The ability of an entity to produce a good or service more efficiently than its competitors with the same resources.
Absolute Advantage
The ability of a country, individual, or firm to produce a good more efficiently than another entity, using fewer resources.
Fewer Resources
A situation or condition where there is a reduced availability of inputs or factors of production such as land, labor, and capital.
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