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A Dynamic System Refers to a System in Which

question 47

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A dynamic system refers to a system in which


Definitions:

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or use in production or operations.

Choices

The range of different options or decisions available to an individual or organization.

Rivalry

The competitive relationship between businesses in the same industry, aiming to achieve higher sales, market share, and customer loyalty.

Competition

A scenario where two or more parties strive for a common goal which cannot be shared, such as market share, victory in a sport, or the acquisition of a contract.

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