Examlex
Why does the author assert that socialization approaches to racism are superior to social psychological and primordialist approaches? What are the limitations of socialization approaches,and how have theories in the conflict tradition attempted to address these limitations?
Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than others.
Trade
Trade involves the exchange of goods or services between parties, which can be within a country or between countries.
Resources
Economic or productive factors required to accomplish an activity, or to provide a service or product, such as land, labor, and capital.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen; the value of the next best alternative foregone.
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