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What are the determinants of the potential output for an economy?
Quality Standards
Preset criteria that products, services, or processes must meet to ensure they are fit for their purpose and meet customer or regulatory requirements.
Tangible Product
A physical item that can be seen, touched, and possessed, in contrast to services or digital goods.
Subjective
Pertains to or is influenced by personal feelings, tastes, or opinions.
Operations Management Decision
Strategic and tactical decisions involved in overseeing the production and distribution processes of goods and services, aiming to maximize efficiency and meet consumer demand.
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