List the Advantages of Custom Fabricating Parts

question 33

Essay

List the advantages of custom fabricating parts.

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Definitions:

Input

Resources used in the production process of goods or services, including labor, materials, and capital.

Removing Subsidy

The process of eliminating financial support provided by governments to businesses, individuals, or other government departments.

Equilibrium Price

The price point at which the quantity of goods demanded equals the quantity of goods supplied, without any external intervention.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to market balance.