Q 1.Which term is the goods and services that one produces domestically and sells abroad? 2.The economies of scale mean that for many goods, as the level of production increases, the average cost of producing each individual unit declines. 3.In a market economy, decision-making is decentralized and is based on a private enterprise . 4.The invisible hand is Adam Smith's concept that individuals' self-interested behavior can lead to positive social outcomes. 5.Which term is when workers or firms focus on particular tasks for which they are well-suited within the overall production process?

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