Examlex
It is not possible to have a comparative advantage in producing a good or service without having an absolute advantage.
Marginal Rate
The marginal rate usually refers to the incremental increase or decrease in the assessment of a variable or cost in response to a change in some activity.
Goods A
Indicating a generic category of tangible products or commodities.
Budget Constraint
The financial limit on the consumption choices of an individual or household based on income and the prices of goods and services.
Income Change
A variation in the amount of earnings received by a person, household, or economic entity over a period.
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