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10 cards from this deck
Producing a good using fewer resources than another producer
Ability to produce at lower opportunity cost than another producer
Ratio of export price index to import price index
Export prices increased more than import prices
Weather conditions and climatic variations affecting supply
Demand fluctuates with economic cycle in developed countries
Brazil, Russia, India, China, South Africa
Rose from 1.04% (1982) to 12.13% (2020)
Comparative advantage depends on factor endowments
Singapore, South Korea, Taiwan, Hong Kong
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