Examlex
In the cost-minimization approach to managing competitive strategies, the relationship between the firms is based on trust of the other partner.
Choices
Decisions made by individuals or organizations among two or more alternatives.
Resources
The total means available for economic and political development, such as minerals, labor force, and financial wealth.
Depression
A harsh and long-lasting decline in economic operations, featuring a marked decrease in the GDP, rising unemployment figures, and continued decrease in prices.
Economy
The organized system of human activity involved in the production, consumption, exchange, and distribution of goods and services.
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