Examlex
The purpose of job redesign is to reduce and eliminate assembly lines.
Specialized Resources
Inputs in the production process that have specific uses and are not easily adaptable to other types of production.
Comparative Advantage
The capacity of a person, business, or nation to create a product or offer a service with a smaller opportunity cost compared to its rivals.
Opportunity Cost
The cost of missing out on the next best alternative when making a decision.
Total Output
The total quantity of goods or services produced by a firm or an economy in a specific period.
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