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Victor is fearful of approaching new situations and often appears inhibited.Victor's mother reported that she struggles with similar difficulties.This is an example of:
Infant Industries
Newly established industries often with limited capabilities compared to established competitors, and potentially protected by a government until they become competitive.
Absolute Advantage
The ability of a country or entity to produce a good or service in a more efficient manner (with fewer resources or in less time) than other countries or entities.
Opportunity Cost of Production
The value of the best alternative use of resources that could have been used for producing something else.
Labor Cost
Represents the total expenses incurred by employers to compensate their workforce, including wages, benefits, and taxes.
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