Examlex
Jeanne's department has the lowest production cost because her people keep the scrap rate and direct labor costs low.From this information,we know her department is an efficient operation.
Trade Deficit
A situation where a country's imports exceed its exports.
Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to specialized trade benefits.
Special Natural Endowment
Unique natural resources or advantages that a country or region possesses, which can provide a competitive edge in certain industries or sectors.
Japanese Dominance
A period or concept where Japan excels or has excelled significantly in certain industries or economic sectors, outperforming competitors.
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