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The management systems in both unit-production and continuous-process technology are characterized as
Statutorily Granted
Rights or privileges given or controlled by laws or statutes rather than by common law or equity.
Subsidy Benefit
Financial support provided by the government or an organization to reduce the cost of goods or services for the end-user.
Inelastic Supply
A situation where the quantity supplied of a good does not change significantly when its price changes.
Elastic Supply
The responsiveness of the quantity supplied of a good or service to a change in its price, with a high elasticity indicating that supply can adjust quickly to price changes.
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