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By Using Resources in an Efficient and Effective Manner,managers May

question 52

Short Answer

By using resources in an efficient and effective manner,managers may reach their ultimate responsibility of achieving high _____.


Definitions:

Demand Schedule

A table that shows the quantity of a good or service that consumers wish to buy at various prices.

Total Revenue

The sum of money a company earns from selling products or offering services over a specific time frame.

Patent

A form of intellectual property protection that grants the patent holder exclusive rights to use, make, sell, and distribute the patented invention or process for a certain period of time.

Barrier To Entry

Factors that prevent or hinder companies from entering a particular market or industry.

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