Examlex
Discuss three attributes that business leaders will need in the coming decade.
Elastic Demand
A situation in which the demand for a product is sensitive to price changes, meaning a small price change can cause a large change in quantity demanded.
Airline Prices
The cost of air travel tickets, influenced by factors such as fuel prices, demand, seasonality, and market competition.
Price-Inelastic
Describes a situation where the demand for a good or service changes little in response to changes in price.
Business Travelers
Individuals who travel as part of their job or business, often to attend meetings, conventions, or to conduct business with other companies.
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