Examlex
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Comparative Advantage
The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than others.
Specialize
To focus on a specific area of knowledge, skill, or production, often improving efficiency and quality in the process.
Produce
To create, manufacture, or grow goods and products.
Heckscher-Ohlin Model
An economic theory that proposes countries export what they can most efficiently and abundantly produce, based on their factor endowments of labor, capital, and resources.
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