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It is more likely that locally owned, one-location cafes in a small town will respond more rapidly to tactical actions by each other than they will to strategic actions by the Burger King franchise that has recently moved to their town.
Tangible Capital
Assets that have a physical form such as machinery, buildings, and land, which are used in the production of goods or services.
Inventory
This term describes the total amount of goods or materials a business has on hand at any given time.
Capital Goods
Assets with a long lifespan that are employed in the creation of goods and services, including machinery, equipment, and buildings.
Economic System
The structure and methods by which a society decides on the allocation of resources and distribution of goods and services.
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