Examlex
Which of the following refers to the physical presence of the customer in a service system?
Percentage Change
A mathematical calculation that shows how much a quantity has increased or decreased as a proportion of its previous value, usually expressed as a percentage.
Income Elasticity
A measure of how much the demand for a product changes with a change in consumers' income.
Completely Inelastic
A situation in which the demand or supply for a good or service is totally unresponsive to price changes.
Inelastic
Describes a condition where the demand or supply for a good or service is not significantly changed by changes in price.
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