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Explain the concept of price elasticity of demand. What are its determining factors?
Continuous Improvement
An ongoing effort to improve products, services, or processes through incremental and breakthrough improvements.
Quality Circles
Small groups of employees who voluntarily meet on a regular basis to identify, analyze, and solve work-related problems, typically focusing on quality improvement.
NLRA
Refers to the National Labor Relations Act of 1935, U.S. legislation that protects the rights of employees and employers, to encourage collective bargaining, and to curtail certain private sector labor and management practices.
Labor-Management Committees
Groups formed by representatives from both labor unions and management teams to discuss and address workplace issues, improve relations, and enhance productivity collaboratively.
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