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Researchers may choose to use probability or nonprobability sampling,depending
largely on the specifics of the research question.
Opportunity Costs
Missing out on potential benefits from various options due to the selection of a single alternative.
Trade
The practice, in a market economy, in which individuals provide goods and services to others and receive goods and services in return.
Specialize
Specialize refers to the process of focusing efforts and resources on a narrow area of expertise or production to gain efficiency, higher quality, or other advantages.
Comparative Advantage
An economic principle that states a country or individual can produce goods at a lower opportunity cost than others, leading to more efficient global trade outcomes.
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