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Technological Improvement
Advances and innovations in technology that enhance efficiency, productivity, or capabilities in various sectors.
Product Demand
The amount of a product or service that buyers are ready and capable of buying at different price levels over a specified time frame.
Decreasing-cost Industry
An industry wherein an increase in the scale of production leads to a reduction in the average cost of production.
Input Prices
The costs associated with purchasing the raw materials, labor, and other factors of production required to produce goods or services.
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