Examlex
What are plasmids?
Comparative Advantage
Total output is greatest when each product is made by the country that has the lowest opportunity cost.
Free Trade
The absence of artificial (government) barriers to trade among individuals and firms in different nations.
Economic Inefficiency
A situation where resources are not allocated optimally, leading to waste or loss in the potential value of output.
Hollow Corporation
A business model where a company outsources most of its production processes, keeping only core functions such as design, marketing, and branding in-house.
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