Examlex
Discuss ways in which information technology can be used to streamline cash collections.
Comparative Advantage
The capacity of a nation, person, firm, or area to create a product or offer a service at a reduced opportunity cost compared to that of its rivals.
Opportunity Cost
The potential benefit that is given up when choosing one alternative over another.
Comparative Advantage
The ability of a party to produce a particular good or service at a lower marginal cost than others.
Steel
An alloy of iron and carbon, and sometimes other elements, used as a primary material in buildings, infrastructure, tools, ships, automobiles, machines, appliances, and weapons.
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