Examlex
a.Describe the special characteristics of retailing.
b.What are the special problems and opportunities that retailers face because of these characteristics?
Factors Of Production
The inputs into the production process. Land, labor, and capital are the three key factors of production.
Diminishing Marginal Returns
A principle stating that as more of a variable input is added to a fixed input, the additional output gained from each new unit of input eventually decreases.
Productivity
The measure of the efficiency of a person, machine, factory, or system in converting inputs into useful outputs.
Technical Assistance
Support provided, typically in the form of expertise or training, to help organizations, countries, or businesses improve their performance.
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