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What is the difference between absolute and comparative advantage?
Difference between absolute and comparative advantage:
• Absolute advantage arises while a country or region can create more of a product with the same factor inputs.
• Comparative advantage exists while a country has lower opportunity cost into a good or service production.
Explain a five-stage process for project risk management. The major stages in project risk management are as follows: •Plan the approach: This approach is described that is
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A transition economy is Moving from a planned to a mixed or free market economy.
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