Ethics and Social Responsibility

Any factor that increases the costs, lower profit margins, or limits market share entrants

A graphic representation of the relationship between cost per unit and scale of production

The process and structures that provide the ultimate decision making authority

Smallest level of output that a plant or firm can produce to minimize long-run average costs

Costs such as plant and equipment, which are relatively fixed

Breaking a large process into smaller tasks that require specialized knowledge

The way rivals in a market interact and bargain for advantage is called?

A legal structure for organizing where the same person owns and runs the business

A set of actions played no matter what a rival chooses to do

The costs incurred by one company compared to the costs paid by a competitor

A strategy in which the unique value offered to customers is lower-priced products or services

A gift or grant, of stock given to organizational members

Reduction costs per unit to increase efficiency of production as goods being produced increases

Costs per unit decrease with increases in cumulative volume of production

A person or group that can affect or is affected by the activities of the corporation