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The Dominican Republic has a comparative advantage in the production of tobacco, and Panama has a comparative advantage in the production of oranges. If both countries specialize based on the theory of comparative advantage
High-Level Positions
Refers to roles or jobs within an organization that carry significant responsibility, authority, and usually higher pay.
Functional Explanation
An approach that explains social phenomena and structures by their functions and contributions to the continuation of a society or system.
Scarcity
A fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.
Functional Explanation
An approach in social sciences that explains social institutions and structures by the role they play in maintaining the stability and functionality of a society.
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