______________ Focuses on the Continuous Reduction of the Manufacturing Costs

question 23

Short Answer

______________ focuses on the continuous reduction of the manufacturing costs of existing products and processes.

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Definitions:

Market-Oriented Economic Development

A strategy that emphasizes adapting products and services to consumer preferences and market demands to foster economic growth.

Currency Exchange Policies

Regulations and practices governing the exchange of one country's currency for another, influencing international trade and economic stability.

Pricing Strategies

Comprehensive plans developed to find the optimal price point to maximize sales and profits while considering costs, competition, and customer demand.

Capital

In economics, capital refers to financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production and facilities.