Examlex
ISO 9000 certification standards play a minor role in setting quality standards for global manufacturers but a major role in setting quality standards in the European Union.
Concentration Ratio
The concentration ratio is a measure used in economics to assess the level of competition within an industry by indicating the market share controlled by the top firms.
Fast Food Industry
A sector of the food service industry that specializes in quick service, standardized food products, and minimal table service.
Perfect Competitor
An idealized market structure where many firms sell identical products, and there are no barriers to entering or exiting the market.
Total Profit
The overall financial gain made by a business after subtracting all expenses from the total revenue generated.
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