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Spmt 374 questions - Study guides, Class notes & Summaries

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SPMT 374 Answered Test

  • SPMT 374 Answered Test

  • Exam (elaborations) • 12 pages • 2024
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    • Changes in the market (sales) when there is a change in price Elasticity of a product Elasticity: sensitivity of demand when price changes - ELASTICITY OF DEMAND Influenced by (among others) -Product necessity-economy -Substitute availability- brand loyalty -Competition-quality - Elasticity of Demand PRODUCT OF ELASTICITY & INELASTICITY Product necessity or luxury ______ - if the product is a necessity Ex: ice-skates ____- if product is a luxury Ex: round of golf at...
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