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Competitive Market
A market structure characterized by a large number of buyers and sellers, free entry and exit, and products that are close substitutes, leading to price determination by supply and demand.
Coconuts
Tropical fruits with a hard outer shell and milky interior, known for their versatility in food products and industrial uses.
Fish
Aquatic animals that are typically cold-blooded, covered with scales, and equipped with fins, used as a significant food source for humans.
Comparative Advantage
An economic principle that refers to the ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.
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