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Two identical glasses are filled to the same level with juice.A child then watches as the juice from one glass is poured into a taller,thinner glass.A child who is capable of concrete operational thought might say:
Comparative Advantage
The ability of an individual or country to produce a good or service at a lower opportunity cost than others.
Production Possibilities
A curve representing all possible combinations of two goods that can be produced within a given economy when resources are fully and efficiently utilized.
Specializes
Specialization involves focusing on a narrow area of knowledge or skill, often to improve efficiency or performance.
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