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The First Company to Identify a Trend and Act on It

question 124

Essay

The first company to identify a trend and act on it has an advantage. According to the material presented in the text, list and discuss the guidelines for telling whether an innovation will be a fad or a trend. Be specific in your discussion.


Definitions:

Efficiently

Achieving maximum productivity with minimum wasted effort or expense.

Inflation

The pace at which the full spectrum of goods and services' pricing ascends, weakening the power of acquisition.

Value Of Money

The purchasing power of money, or the amount of goods and services that one unit of money can buy, often influenced by inflation.

Market Outcomes

The results of economic transactions and interactions in a market, including prices and quantities of goods and services traded.

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