Examlex
The scientific management approach creates problems such as decreased worker motivation and a decrease in product quality
Automated Equipment
Automated equipment consists of machinery and tools that operate with minimal human intervention, often used in manufacturing to increase efficiency and reduce labor costs.
Break-Even Point
The level of sales or production at which a business's revenues equal its expenses, resulting in neither profit nor loss.
Contribution Margin
The difference between sales revenue and variable costs of a product, indicating how much contributes to covering fixed costs and generating profit.
Break Even
The point at which total costs equal total revenue, meaning that a business or project is neither making a profit nor incurring a loss.
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