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A less extreme version of the PPP theory states that given ______________,that is,markets in which few impediments to international trade and investment exist-the price of a "basket of goods" should be roughly equivalent in each country.
Natural Resources
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.
Market Prices
The current price at which a good or service can be bought or sold in an open market, determined by supply and demand dynamics.
Economic Profits
The surplus remaining after total costs are deducted from total revenues, accounting for both explicit and implicit costs.
Productive Land Resources
Land areas that are utilized or capable of being utilized for agricultural production, mining, or other economic activities.
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