Examlex
INFORMATION PROCESSING is to PSYCHOMETRICS as ____ is to ____.
Comparative Advantage
a principle of economics that states a country or entity should produce goods and services for which it has a lower opportunity cost than its trade partners.
Specialization
involves focusing on a narrow range of products or services to gain efficiency and improve competitive advantage.
Exchange
The act of giving one item in return for another, often seen in finance and trade as the swapping of goods, services, or financial instruments.
Trade
The exchange of goods, services, or both between two or more parties, either across international borders or within a single market.
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