Examlex
The human nose can detect aromas that the most sophisticated machines fail to detect. Explain what happens once you inhale vapours (airborne chemical molecules) from a rose.
Output
The quantity of goods or services produced in a certain period of time by a person, machine, or industry.
Price Taker
A market participant who has no influence over the market price and must accept the prevailing market price for its products or services.
Price Maker
An entity, typically a firm, with enough market power to influence or set the price of its product or service rather than taking the market price as given.
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