Explain the 'Markets' in Which a Business Entity Operates

question 72

Essay

Explain the 'markets' in which a business entity operates.

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Definitions:

Organize Unions

The process by which workers form or join labor unions to negotiate collectively with their employers for better wages, working conditions, and other employment terms.

Relay Contacts

The contacts of a relay that are either opened or closed according to the condition of the relay coil. Relay contacts are designated as either normally open or normally closed in design.

Coil

Represents the output of a programmable logic controller. In the output devices, it is the electrical coil that, when energized, changes the status of its corresponding contacts.

Reed Switches

Electromechanical devices that open or close contacts in response to a magnetic field.