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Labor Productivity
A measure of economic performance that compares the amount of goods and services produced with the number of hours worked.
Export Promotion
A development strategy that concentrates on producing for the export market
Import Substitution
An economic strategy aimed at reducing dependency on foreign imports through the local production of industrialized products.
Comparative Advantage
Comparative advantage is the ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than its competitors.
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