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What aspects of your educational experience do you consider as being "McDonaldized"? What impact has it had on your learning experience? How might it affect your future endeavours outside academia? Discuss and explain,making connections to Ritzer's thesis (the four components-efficiency,calculability,predictability,and control)and using examples.
Immediate Market Period
A very short time frame in economics during which the supply of a good is completely fixed and cannot respond to changes in demand.
Supply
The total amount of a product or service that is available to consumers, which can vary based on price, production costs, and other factors.
Elastic
A term used in economics to describe the sensitivity of the demand or supply of a good or service to changes in its price.
Perfectly Inelastic
A situation in which the quantity demanded or supplied does not change regardless of any change in price.
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