Please Define the Following Key Terms

question 19

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Max Weber

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Definitions:

Optimal Quantity

Optimal quantity is the most efficient amount of goods or resources needed to minimize costs and maximize value or profitability.

Wholesale Price

Wholesale Price is the cost of goods sold in large quantities for the purpose of resale by retailers, often lower than the retail price to allow for margins.

Retailer

A business or person that sells goods directly to consumers.

Manufacturer

An entity that produces finished goods from raw materials on a large scale, using machinery, labor, and production processes.