Examlex
Define enterprise resource planning (ERP)systems and state one advantage and one disadvantage of ERP systems.
Miles Per Gallon
A measure of fuel efficiency in vehicles, indicating how many miles a vehicle can travel on one gallon of fuel.
Price Of Gasoline
The cost per unit volume of gasoline, which can fluctuate based on factors such as crude oil prices, taxes, production costs, and supply-demand dynamics.
Factors Of Production
The inputs into the production process. Land, labor, and capital are the three key factors of production.
Diminishing Marginal Returns
A principle stating that as more of a variable input is added to a fixed input, the additional output gained from each new unit of input eventually decreases.
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