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Explain the Precautions That a Business Should Take When the Business

question 23

Essay

Explain the precautions that a business should take when the business is establishing an e-commerce site to be used to sell goods and services.


Definitions:

Profit Maximization

The procedure through which an enterprise establishes the pricing and output necessary for the maximum profit.

Rock Climbing Shoe

Specialized footwear designed to provide climbers with enhanced grip and sensitivity on rock surfaces.

Monopoly

An economic scenario in which only one company dominates the entire market's supply of a specific product or service, with no competitors.

Profit-Maximizing

How a corporation figures out the most profitable price and volume of production.

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