Examlex
Chain of command is a key element of an organization's structure. Which of the following key questions is addressed by this element?
Absolute Advantage
Absolute advantage refers to an individual's, firm's, or country's ability to produce more of a good or service than competitors, using the same amount of resources.
Technology
The application of scientific knowledge for practical purposes, especially in industry.
Increasing Returns
A situation in economics where an increase in the scale of production leads to a more than proportionate increase in output, often due to efficiencies gained.
Trade Pattern
The general flow of import and export transactions between countries or regions.
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