Examlex
Compare the meaning of race with that of ethnic group.
Absolute Advantage
A scenario in which a country can produce a particular good or service more effectively than another country with the same amount of resources.
Comparative Advantage
an economic principle that posits a country or entity can produce a particular good or service at a lower opportunity cost than its trading partners, leading to beneficial trade.
Medium Of Exchange
Anything that facilitates trade by being generally accepted by all parties in payment for goods or services.
Facilitates Trade
Actions or policies designed to make trade between countries or parties easier, typically through reducing barriers such as tariffs and quotas.
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