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COMMUNICATION: The process by which ideas, thoughts, and subsequent feedback is accomplished through encoding, sending, and decoding. In order for effective communication to occur the sender must understand the target audience and encode the message in a way that will be understood. This message is sent in various forms and can be distorted by interference prior to reaching the receiver. Receiver then interprets the message and performs required action and gives necessary feedback to the sender. Utilizing this process correctly is an integral part of the promotion element in the marketing mix.
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Lesson 11: Elasticity Basics | Unit 2: A Little More
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Page: 6 of 25
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- Demand responsiveness can be classified into one of two broad categories:
- Elastic:
- A good is said to be elastic if quantity is very responsive to the price. To be more specific:
- Elastic means the percentage change in quantity is greater than the percentage change in price.
- Inelastic:
- A good is said to be inelastic if quantity is NOT very responsive to the price. To be more specific:
- Inelastic means the percentage change in quantity is less than the percentage change in price.
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AGGREGATE EXPENDITURES EQUATION An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at an auction wanting to buy either a remote controlled ceiling fan or a how-to book on home decorating. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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AASB
American Assocation of Small Business
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