Examlex
The _____ approach assumes that subjectivity can be eliminated from the measurement process and that outcomes are the closest indicator of one's contribution to organizational effectiveness.
Product Differentiation
The process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.
Free Entry
The condition in which new firms can enter the market with no or minimal barriers, promoting competition.
Imperfect Competition
Imperfect competition describes a market structure where the conditions for perfect competition are not met, due to factors like monopolies and product differentiation.
Monopolistic Competition
A market structure in which many companies sell products that are similar but not identical, allowing for competition based on price, quality, and innovation.
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