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Vector
Has a magnitude of 4.0 m and points 30° south of east.Vector
Has a magnitude of 2.0 m and points 30° north of west.The resultant vector
+
Is given by
Comparative Advantage
The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.
Opportunity Cost
The value of the next best alternative foregone as a result of making a decision.
Specialize
The process of focusing effort and resources on a narrow area of activity or field of study to gain efficiency or expertise.
Production Possibilities
A graphical representation showing the maximum quantity of goods and services that can be produced using limited resources to the fullest extent.
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