Examlex
82theory explains global inequality using the characteristics of individual nations;theory argues no country or set of countries may be understood in isolation from the others.
Comparative Advantage
The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its trading partners.
World Price
The global market price of a commodity, determined by international supply and demand.
Domestic Price
The price of goods or services within a country's borders, which can be influenced by local supply and demand factors.
Domestic Supply
The total amount of goods and services produced within a country's borders that are available for consumption or export.
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