Examlex
The extent to which employees perceive the allocation of rewards in the organization to be fair is called
Output Level
The quantity of goods or services produced by a company, industry, or economic system at a given time.
Average Revenue
The amount of income generated per unit of sale or the total revenue divided by the quantity of products or services sold.
Marginal Revenue
The income boost obtained through the sale of one extra unit of a product or service.
Pure Competition
A market structure characterized by an extremely high level of competition, where no single buyer or seller can influence the market price.
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