Examlex
Which is necessary for a process to be spontaneous?
Homogeneous Products
Undifferentiated outputs; products that are identical to or indistinguishable from one another.
Price Takers
Market participants who accept the prevailing market price without having the influence to change it due to their relatively small size in the market.
Loss-minimizing
A strategy employed by businesses to reduce the amount of financial losses incurred during unfavorable market conditions or through poor operational decisions.
Units of Output
The quantity of product produced, serving as a measure of a firm's or industry's total production.
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