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B207 (Global Context (Trade Environment (Comparative advantage (Absolute…

- - - - Absolute comparative advantage
        
        Developed by Adam Smith
        
        Should get supplies at cheapest price
      - Theory of relative comparative advantage
        
        Developed by David Ricardo
        
        Countries should produce what they are more specialised in
- - - - External cost of defect
      - Internal cost of defects
      - Prevention costs
      - Appraisal costs
    - - Focus on improving , rather than not making errors
      - responsible for the whole organisation
      - individuals responsible for delivering for delivering products or services to customers