Examlex
Ed, an individual, incorporates two separate businesses that he owns by establishing two new corporations.Each corporation generates taxable income of $50,000.Each corporation will have a tax liability of $7,500.
International Specialization
The economic strategy of a country focusing its resources on producing goods and services it can produce most efficiently for exchange with others.
World Price
The international market price of a good or service, influenced by global supply and demand.
Diseconomies Of Scale
refers to a situation where, as a company or business expands, its production costs increase, leading to a decrease in efficiency.
Resource Endowments
The natural resources, capital, and other economic assets that a country possesses, impacting its economic potential.
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