Examlex
Phenalanine
Inputs
Resources such as labor, raw materials, and capital that are used in the production process to create goods or services.
Gain From Trade
The benefit obtained by countries, organizations, or individuals from engaging in exchange or trade.
Absolute Advantage
The ability of an entity to produce a good or offer a service more efficiently than its competitors when using the same amount of resources.
Absolute Advantage
The capability of an individual, company, or country to produce a good or service at a lower cost per unit than competitors.
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