Examlex
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Agricultural Subsidies
Government payments to farmers to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such goods.
Tariff
A tax imposed on imported goods, intended to increase the price of foreign products to protect domestic producers.
Quota
A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.
Comparative Advantage
The capacity of a nation or company to manufacture a specific good or service with a lower opportunity cost compared to its rivals.
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