Examlex
_________ is a power made operative against another's will.
Equilibrium World Price
The price at which the supply of a good on a global scale exactly matches the world demand for that good.
Production Possibilities Curve
A graphical representation that shows the maximum quantity of two goods that can be produced within a given resource constraint.
Trading Possibilities Curve
A graphical representation that shows the different quantities of two goods or services that a country can efficiently produce and trade given fixed resources.
Specialize
The process of focusing on a narrow area of expertise or production, allowing individuals or firms to increase efficiency and quality.
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