Examlex
Alaina is creating a large database for the non-profit organization where she works. Alaina has a lot of data to enter, and she wants to make the process easier. She creates a ____.
Productive Efficiency
Occurs when a good or service is produced at the lowest possible cost, utilizing all resources efficiently.
Cartel
A formal agreement among firms (or countries) in an industry to set the price of a product and establish the outputs of the individual firms (or countries) or to divide the market for the product geographically.
Economic Efficiency
A situation in which resources are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.
Brand Loyalty
The tendency of consumers to continuously purchase one brand's products over another's based on their positive experience with that brand.
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