Examlex
What are the three principal components of a DNA nucleotide?
International Trade
The exchange of goods and services between countries, which can increase market competition and lead to better product diversity and lower prices.
World Price
The global market price of a good or service when it is traded internationally.
Free Trade
The economic policy of not discriminating against imports from and exports to foreign jurisdictions, allowing goods to move across borders without regulatory or tariff barriers.
Comparative Advantage
The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors, underpinning the rationale for international trade.
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