ECONOMIC TERMS A–Z
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AABSOLUTEADVANTAGEThisisthesimplestyardstickofeconomicperformance.Ifonepersonfirmorcountrycanproducemoreofsomethingwiththesameamountofeffortandresourcestheyhaveanabsoluteadvantageoverotherproducers.Beingthebestatsomethingdoesnotmeanthatdoingthatthingisthe
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