Examlex
Which of the following two types of hepatitis account for almost two-thirds of all cases of hepatitis?
Comparative Advantage
The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade and production.
Absolute Advantage
Absolute advantage refers to an individual's, firm's, or country's ability to produce more of a good or service than competitors, using the same amount of resources.
Technology
The application of scientific knowledge for practical purposes, especially in industry.
Increasing Returns
A situation in economics where an increase in the scale of production leads to a more than proportionate increase in output, often due to efficiencies gained.
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