If Two People Both Produce Goods and Each Has a Comparative

question 2

Short Answer

If two people both produce goods and each has a comparative advantage,and they exchange goods with each other for mutual benefit,it is called a(n)________.

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Definitions:

United States

A federal republic consisting of 50 states and a federal district, known for its significant influence in global economics, politics, and culture.

Israel

A country in the Middle East on the Mediterranean Sea, known for its historical and religious significance to Judaism, Christianity, and Islam.

Traditional Authority

A form of leadership in which the authority of an organization or a ruling regime is largely tied to tradition or custom.

Modern Societies

Societies characterized by significant technological development, social structures, and cultural norms that distinguish them from earlier historical periods.