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In his relations with major communist powers, President Nixon:
Standard Price (SP)
A predetermined cost that companies use as a benchmark to evaluate actual performance or to plan future financial strategies.
Actual Price (AP)
The real price at which a transaction occurs, as opposed to an estimated or theoretical price.
Perfection Standards
Ideal or flawless benchmarks set for processes or products to ensure the highest quality level attainable.
Optimum Operating Conditions
The most favorable conditions under which a process, system, or machine operates most efficiently and effectively.
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