Examlex
Cloud computing can be viewed as an online SaaS and data environment.
Comparative Advantage
The ability of a country or firm to produce a particular good or service more efficiently than other goods or services, relative to other countries or firms.
Opportunity Cost
The sacrifice of potential advantages from different alternatives when opting for a particular one.
Production Cost
The total cost incurred by a firm in producing a specific quantity of a good or service, including both fixed and variable costs.
Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than its trade partners, leading to potential gains from trade.
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