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Complete specialisation
1. Non-production of some of the goods that a country consumes, as in definition 2 of specialization. 2. Production only of goods that are exported or nontraded, but none that compete with imports. 3. Production of only one good. 4. Being the only country in the world to produce a good.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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