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Business Test 1
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Business Test 1 A monopoly - ANS-When there is only one business providing a product in a given market, there exists Absolute advantage - ANS-A(n) _____ exists when a country is the most efficient ... producer of an item. All economic decisions are made without government intervention - ANS-In a free-market system, balance of payments - ANS-The difference between the flow of money into and out of a country is called its Balance of trade - ANS-A nation's _____ can be best defined as the difference in value between its exports and i [Show More]
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