Examlex
Approximately how many Buddhist temples are located in Japan?
Resources
Assets, materials, and inputs needed for the production of goods and services, including human resources, natural resources, and capital resources.
Price-Taker Firm
A price-taker firm is a business that accepts the market price set by the forces of supply and demand, lacking sufficient power to influence the price on its own.
Maximize Profit
The process of increasing the difference between the cost of production and the revenue generated from sales to the highest possible level.
Short Run
A period during which at least one factor of production is fixed, limiting the ability to adjust to changing market conditions.
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