Examlex
Michael and Angelo are both artists who can create sculptures or paintings each day. The following table describes their maximum outputs per day. Does either one have a comparative advantage?
Sourcing
The process involved in finding, evaluating, and engaging suppliers of goods and services.
Procurement
The process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often involving tendering or competitive bidding.
Social CRM
The use of social media technology and services to enable organizations to engage their customers in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent manner.
Social Media Technology
The technologies that enable the creation, sharing, and exchange of information and ideas in virtual communities and networks.
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