Examlex
The price elasticity of demand is measured by dividing the percentage change in quantity demanded by the percentage change in price.
Internalization
The process of integrating beliefs, values, or behaviors into one's own value system or way of being, often subconscious.
Salesperson
A Salesperson is an individual who sells goods or services to customers, often working on behalf of a company, utilizing skills in persuasion and negotiation to achieve sales.
Economic Needs
The fundamental requirements for goods and services that satisfy basic needs like shelter, food, and clothing, as well as desires for improved quality of life.
Recession
A significant decline in economic activity across the economy, lasting for a period of months or years, typically recognized by a decrease in GDP.
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