Examlex
Competency-based job analysis begins with identifying the TDR.
Technologically Progressive Industry
An industry characterized by rapid and continuous technological innovation, leading to dynamic growth and evolution of its products and services.
Long-Run Supply Curve
A graphical representation showing the quantities of a good or service that a firm is willing and able to supply at different prices over a period where all inputs can be varied.
Constant-Cost Industry
Constant-Cost Industry refers to an industry in which the input prices do not change as industry output changes, leading to a flat supply curve.
Long-Run Equilibrium
A state where all factors of production and inputs can be adjusted by firms, and no economic forces are inducing firms to change their output or production levels.
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