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Table 9-12
Output per hour Production and Production
of work Consumption without Trade with Trade
Estonia and Morocco can produce both swords and belts. Each country has a total of 40 available labor hours for the production of swords and belts. Table 9-12 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 9-12. Which country has a comparative advantage in producing belts?
Cost Efficiency
The optimization of resources to achieve the maximum output or effect for the minimum cost or expenditure.
Customer Service
The support and advice provided by a company to those people who buy or use its products or services.
Process Driven Organizations
Companies that prioritize systematic procedures and workflows to achieve their objectives.
Process
A series of actions or steps taken in order to achieve a particular end.
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