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AP Macroeconomics
Unit 1 – Basic Economic Concepts
Topic 1.3
What do the concepts of absolute and comparative advantage illustrate in the context of international trade?
How countries determine terms of trade
How countries specialize in producing goods and services efficiently
How countries gain competitive edge in the global market
How countries import and export goods and services
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AP Macroeconomics - 1.3 Comparative Advantage and Trade
Key terms
Comparative Advantage
International trade
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About Us
About Fiveable
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Careers
Testimonials
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Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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