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5 Cards in this Set
- Front
- Back
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IMPORT
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A good that is brought in from another country for sale.
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EXPORTS
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A good that is sent to another country for sale.
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COMPARATIVE ADVANTAGE
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The ability to produce a product most efficiently given all the other products that could be produced.
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SPECIALIZAION
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The concentration of the productive efforts of individuals and firms on a limited number of activities.
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HUMAN CAPITAL
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The skills and knowledge gained b a worker through education and experience
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