Examlex
Total quality management (TQM) seeks to continuously improve an organization's ability to meet or exceed customers' demands, and, as such, is useful in a government setting as well as a business setting.
Division of Output
The allocation or distribution of the total goods and services produced among different sectors, markets, or consumers.
Marginal Benefits
The additional benefits received from consuming one more unit of a good or service.
Marginal Costs
The rise in overall expenses that occurs when the production amount is increased by a single unit.
MP3 Players
Portable electronic devices designed to play digital audio files in the MP3 format, popular for music playback before the widespread use of smartphones.
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