Examlex
An assembly worker earns a $50,000 salary and receives a fringe benefit package worth $15,000. The payroll factor assigns $65,000 for this employee.
Personal Selling
A method of sales where businesses use individuals to sell the product after meeting face-to-face with the customer.
Economies of Scale
Refers to the cost advantages that enterprises obtain due to their scale of operation, leading to a reduced cost per unit.
Economies of Scope
Cost advantages that result from a company offering a range of products rather than specializing in just one.
By-product Synergy
The practice of finding valuable uses for waste or by-products generated during the manufacturing process, thereby reducing waste and potentially increasing efficiency and profitability.
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