Examlex
By strengthening the muscles of the back and abdomen,resistance training can improve posture.
Absolute Advantage
The ability of an individual, company, or country to produce a good or service at a lower cost per unit than others.
Comparative Advantage
An economic principle stating that countries or entities gain and benefit from trade when they specialize in producing goods for which they have a lower opportunity cost than their trading partners.
Production
The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).
Producer Surplus
The difference between what producers are willing to accept for a good or service versus what they actually receive in the market.
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