Examlex
The factors that arbitrators use when deciding cases are the wording of the labour agreement, the submission agreement, the testimony and evidence offered, and which of the following?
Exports
Goods or services produced in one country and sold to buyers in another, contributing to the selling country's national income.
Imports
Goods or services brought into one country from another for sale or use.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing between options.
Comparative Advantage
The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than others.
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