Relative dating defenition

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Supplement Word origin: Greek organon = instrument.Related forms: organismic (adjective), organismal (adjective), organismically (adverb). For gases the standard is often air or hydrogen at the same temperature and pressure as the substance Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. One of the most important concepts in economic theory, comparative advantage lays out the case that all actors, at all times, can mutually benefit from cooperation and voluntary trade.

Absolute advantage: The ability to produce a good at lower cost, in terms of labor, than another country.The attorney is better at producing legal services then her secretary and is also a faster typist and organizer.In this case, the attorney has an absolute advantage in both the production of legal services and secretarial work.An absolute advantage exists when a nation or other economic region is able to produce a good or service more efficiently than a second nation or region.Absolute-priority rule: The rule in bankruptcy or reorganization that claims of a set of claim holders must be paid, or settled, in full before the next, junior, set of claim holders may be paid anything.

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