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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.4
Unit 1 – Basic Economic Concepts
1.4 Comparative Advantage and Trade
mixed difficulty
Specialization in the context of trade means?
Exchanging goods and services between countries.
Producing goods and services at a lower opportunity cost.
Stopping production of one good to maximize production of another good.
Allocating resources efficiently.
Study guides (1)
AP Microeconomics - 1.4 Comparative Advantage and Trade
Key terms
Specialization
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