Examlex
How does a "top down" approach differ from policy changes based on community participation? How do environmental anthropologists approach change programs?
Normal Profit
The minimum level of profit needed for a company to remain competitive in the market, essentially covering opportunity costs.
Nonprice Competition
Strategies used by companies to attract customers through methods other than lowering prices, such as quality improvement, service, or branding.
Product Differentiation
The practice of individualizing a product or service in the marketplace to make it more enticing to a targeted audience.
Monopolistically Competitive
Refers to a market structure where many firms sell similar but not identical products, allowing for some degree of market power and product differentiation.
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