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Which of the following is true about Southern slaveholders in the antebellum years?
Absolute Advantage
Absolute advantage is the ability of a country or entity to produce a good or service more efficiently than others, using fewer resources.
Trade
The exchange of goods or services between individuals, businesses, or countries.
World Price
The worldwide market rate of a product or service, shaped by the global conditions of supply and demand.
Import
The act of bringing goods or services into one country from another for sale or use, which can impact domestic markets and industries.
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