Examlex
Discuss the supply chain management (SCM)activities that can be improved by Internet-enabled SCM.
Long Run
A period in which all inputs can be adjusted by firms, and all market adjustments have been made.
Nominal Wages
The amount of money received by an employee before any deductions and not adjusted for inflation; the face value of wages.
Potential Output
The highest level of real GDP that can be sustained over the long term without increasing inflation, reflecting the economy's maximum productive capacity.
Actual Output
The real quantity of goods and services produced by an economy, as opposed to its potential or desired output.
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