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Why Do We Need International Standards

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Why do we need international standards?


Definitions:

Contribution Margin Ratio

A financial metric that measures the proportion of revenue remaining after variable costs have been deducted, indicating how much revenue is available to cover fixed costs and generate profit.

Fixed Expenses

Costs that do not change with the level of production or sales over a short period, such as rent, salaries, and insurance.

Sales Mix

The combination of products or services that a company sells, typically influencing the company's profits and strategy.

High-margin Items

Products or services that generate a significantly higher percentage of profit relative to their sales price.

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