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Absolute Advantage
The ability of a country, company, or individual to produce a good or service more efficiently than competitors using the same amount of resources.
Comparative Advantage
The ability of an individual, company, or country to produce a particular good or service at a lower marginal and opportunity cost over another.
Comparative Advantage
The ability of a country or firm to produce a particular good or service at a lower marginal cost and opportunity cost than its competitors.
Produce More
The act of increasing the output of goods or services, typically in response to higher demand or improved efficiency.
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