Examlex
A genuine concern for customer needs and customer satisfaction can assist the TQM efforts of a small business.
Supplier
An entity that provides goods or services, typically in exchange for payment.
Revenue
The total income generated by a firm from its business activities, typically from the sale of goods and services to customers.
Midpoint Method
A technique used in economics to calculate the elasticity of demand or supply by using the average of the initial and final quantities and prices.
Price Elasticity
A measure in economics indicating how the quantity demanded of a good or service changes in response to a change in its price.
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