Examlex
When environmental factors change rapidly, the organization experiences _____ uncertainty.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a stable market condition.
Increasing-Cost Industry
An industry where production costs increase as the industry's output increases, often due to resource limitations or other scaling challenges.
Economic Profits
Profits exceeding the normal return on investment, calculated by subtracting both explicit and implicit costs from total revenues.
Industry Expansion
The process of a sector growing in size, output, or number of entities, often due to increased demand or technological advancements.
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