1
Key concepts:-
• Opportunity cost : The cost, in a particular choice, of giving up the next best alternative.
• Specialization: When the producer specializes in producing the good or service for which they have a comparative advantage.1
Key concepts:-
• Opportunity cost : The cost, in a particular choice, of giving up the next best alternative.
• Specialization: When the producer specializes in producing the good or service for which they have a comparative advantage.
1
Key concepts:-
• Opportunity cost : The cost, in a particular choice, of giving up the next best alternative.
• Specialization: When the producer specializes in producing the good or service for which they have a comparative advantage.

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