Core Applications Are

question 30

Multiple Choice

Core applications are

• A)sales and distribution
• B)business planning
• C)shop floor control and logistics
• D)all of the above

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Definitions:

Long Run

A period in economics where all factors of production and costs are variable, allowing for full industry adjustment.

Economies of Scale

Economies of Scale refer to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market.

Government-Set Barriers

Regulations or policies implemented by the government that restrict entry into certain markets or industries.