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Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
A car used only for commuting to work is not a tool of the trade, but a motor vehicle can be, including a farm tractor. [12] Breeding stock can be considered, as well as a logging truck and trailer. [12] However, some cases have limited the exemption to personal hand tools and not large machinery or power tools. [12] [11]
a butcher's trade a botch butt (n.) (n.) the (larger) end of anything, a stub; also, a cigarette a sudden blow given by the head of an animal a large wooden cask a person mocked by a joke (v.) to strike bluntly (as with the head) (butt in) to interfere when uncalled for (orig. US) (colloquial) buttocks (UK usu. bum); hence butthead *
Scoff or SCOFF may refer to: . Scoff, a colloquial term for the act of eating, usually quickly "Scoff" a song by Nirvana on their album Bleach; Scoff, a colloquial term for fellatio
Economic liberalization refers to the reduction or elimination of government regulations or restrictions on private business and trade. [3] It is usually promoted by advocates of free markets and free trade, whose ideology is also called economic liberalism. Economic liberalization also often involves reductions of taxes, social security, and ...
“Voluntary" export agreements affect trade in textiles, footwear, dairy products, consumer electronics, cars, machine tools, etc. Problems arise when the quotas are distributed between countries because it is necessary to ensure that products from one country are not diverted in violation of quotas set out in second country.
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Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services.