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in trade when a country can produce a good at a lower cost (using fewer resources) than any other country would need to produce it.
when a consumer allocates income so that the last rand spent on each product yields the same...
goods that are unrelated to each other; the rise in the price of one product will have no effect...
a combination of market capitalism and a centrally planned economy; in practice all countries...
low- and middle income countries in which most people have a lower standard of living than...