Examlex
Which school of thought brought the study of animals to psychology and also promoted educational psychology and industrial psychology?
Specialization
The process by which individuals, businesses, or countries focus on producing a limited range of goods or services to gain greater efficiency and productivity.
Trade Barriers
Measures such as tariffs, quotas, and regulations implemented by governments to control international trade and protect domestic industries.
NAFTA
The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico that eliminated most tariffs and trade barriers between the countries.
Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than others.
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