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John wants to start his own business. After doing some research, he has decided to specialize in cleaning kitchens since most homemakers are not satisfied with the quality of the service offered by the residential cleaning companies. What is this process of finding a small-but profitable-demand for something and producing a custom-made product or service known as?
Fisheries Value
The economic value derived from the activities of capturing or cultivating fish and other aquatic resources.
Natural Monopoly
A market condition where a single firm can supply a product or service to an entire market at a lower cost than two or more firms could, often due to high infrastructure or fixed costs.
Per-unit Costs
The average cost incurred in the production of one unit of a good or service, including both fixed and variable costs.
Number Of Producers
The total count of entities or individuals that manufacture or produce goods and services within an economy.
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