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What Is Contract Manufacturing? What Are the Advantages and Disadvantages

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What is contract manufacturing? What are the advantages and disadvantages of contract manufacturing?


Definitions:

Competitive Goods

Products or services that compete in the same market as others, appealing to the same set of consumers.

Not-For-Profit

Organizations that operate for purposes other than making a profit, often focusing on social, educational, or charitable activities.

Labor Unions

Organizations representing workers' interests, aiming to improve wages, work hours, and working conditions through collective bargaining.

Private Enterprise System

An economic system characterized by private ownership and control over production and distribution, driven by profit motives.

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