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A newspaper article informs you that most businesses reduced production in the last quarter but also sold from their inventories during the last quarter.Based on this information GDP likely
Costs
The expenditure required to produce, acquire, or maintain a product or service, including materials, labor, and overhead expenses.
Absolute Advantage
The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.
Comparative Advantage
The capacity for a person, company, or nation to generate a product or offer a service at a lesser opportunity cost compared to its rivals.
Opportunity Cost
The expense incurred by not choosing the second-best option available when a decision is made or an action is taken.
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