Examlex
What is one of the major advantages of using focus groups compared to other qualitative forms of data collection?
Comparative Advantage
The capacity of a person, business, or nation to create a product or offer a service with a lesser opportunity cost compared to its rivals.
Production
The process of creating goods and services through the combination of labor, materials, and technology.
Consumption
The use of goods and services by households or individuals.
Comparative Advantage
An economic theory stating that a country or individual can produce goods at a lower opportunity cost than their trade partners, leading to more efficient trade outcomes.
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