Examlex
An IT input control is designed to ensure that:
AVC
Average Variable Cost; the total variable costs of production divided by the quantity of output produced.
ATC
Average Total Cost, which is calculated by dividing the total cost of production by the quantity of output produced. It encompasses both fixed and variable costs.
Competitive Forces
Factors that influence the competitive environment of a market, including rivalries among existing competitors, potential new entrants, substitute products, bargaining power of buyers, and bargaining power of suppliers.
Technological Change
Innovations or advancements in technology that improve processes, increase efficiency, or create new products or markets.
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