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5 Cards in this Set

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