Examlex
Your local Target retailer carries a variety of different items.You can find everything ranging from socks and DVDs to baby items and groceries.This is an example of the ________ carried by Target.
Comparative Advantage
The capacity of a party to produce products or services with a lesser opportunity cost compared to others.
Opportunity Cost
The cost of the next best alternative foregone when making a decision.
Specialization
A focus on a narrow area of knowledge or skill, leading to greater efficiency and expertise in that area.
Farmer
An individual who engages in the act of agriculture, raising living organisms for food or raw materials.
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