Specialization based on comparative advantage accompanied by trade among producing nations:

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Specialization based on comparative advantage allows countries to produce goods in which they have a lower opportunity cost, leading to more efficient global production. This increases overall output and can reduce the scarcity problem by making more goods available. However, it does not eliminate scarcity, which is a fundamental economic problem due to unlimited wants and limited resources.

Specialization Based on Comparative Advantage Accompanied by Trade Among Producing