Examlex
Find two positive numbers whose product is and whose sum is a minimum.
NAFTA
The North American Free Trade Agreement, a treaty among the United States, Canada, and Mexico aiming to eliminate trade barriers and promote economic cooperation.
Economic Integration
The process whereby countries reduce trade and investment barriers among themselves, aiming to increase economic cooperation and interdependence.
Internal Tariffs
Taxes imposed by a government on goods and services traded within the same country.
Opportunity Cost
The value of the best alternative forgone in making any decision, a concept central in economics for understanding resource allocation.
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