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DIFFERENTIATED: A targeting strategy in which the company develops two or more marketing mixes to satisfy the needs of multiple segments of the market. Each mix focuses on a specific segment. Sometimes this happens after a firm has used a concentrated strategy in one market and then expands into a new market.
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Lesson 11: Circular Flow | Unit 4: Foreign
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Page: 16 of 22
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The foreign sector is the fourth and last circular flow sector.- The foreign sector is households, businesses, and governments outside the domestic economy (including other planets).
- Market exchanges are a natural means of addressing the scarcity problem. Mutually beneficial exchanges aren't limited by geographic location or political boundaries.
- Foreign trade, the exchange among buyers and sellers in different nations, is an extension of mutually beneficial exchanges among people of the same country.
- Foreign trade gives us the terms exports and imports.
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PLANNING HORIZON Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.
Complete Entry | Visit the WEB*pedia |
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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GEB
Games and Economic Behavior
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