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Orienting by landmarks, such as done by gray whales migrating along the coast of western North America, is known as
Comparative Advantage
The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.
Absolute Advantage
The ability of a party, company, or country to produce a good or service more efficiently than its competitors using the same amount of resources.
Comparative Advantage
The economic principle that a country or entity should produce goods and services for which it has a lower opportunity cost than its trading partners.
Mutual Gain
A situation or outcome in negotiation or trade where all parties involved benefit or achieve some level of advantage.
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