Examlex
One of the benefits of diversity in the workforce is the ability to better serve the needs of a culturally diverse customer base.
Least Cost
Refers to the most cost-effective method of producing a given level of output without sacrificing quality.
Horizontal Market
A market that meets a specific need across multiple industries, rather than being confined to a particular sector.
Natural Monopoly
A type of monopoly that arises due to high fixed or start-up costs associated with the business, making it efficient for only one provider to serve the entire market.
Antitrust Law
Laws designed to promote competition and prevent monopolies by regulating corporate practices that restrict trade.
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