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31 Aug Key Vocabulary and Concepts – 2

Posted at 03:07h in Uncategorized by
Please define and explain each of these terms.
  1. Absolute productivity advantage
  2. Autarky
  3. Comparative productivity advantage
  4. Competitive advantage
  5. Consumption possibilities curve
  6. Gains from trade
  7. Mercantilism
  8. Opportunity Cost
  9. Production possibilities curve
  10. Zero sum

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