Examlex
If two countries trade corn and steel, each must have an absolute advantage in the good it exports.
Cost Centers
Divisions or departments within an organization that do not directly generate revenue but incur costs, used for tracking and managing expenses.
Cost Price Approach
A method of valuation where items are recorded and kept in the inventory at their purchase or production cost.
Transfer Price
The price at which goods and services are sold between divisions within the same company.
Decentralized Operation
An organizational structure where decision-making is distributed among various levels or departments rather than being concentrated at a single point.
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