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What is the equation for total expenditure in an open economy?
Differentiation
The process of distinguishing a product or service from those of competitors in order to appeal to a particular target market.
Customer's Perspective
The viewpoint or attitude of consumers regarding the purchase, usage, benefits, and overall satisfaction with a product or service.
Competitive Advantage
The unique attributes or capabilities a company has that enable it to outperform its competitors, leading to greater sales or margins.
Defined
Clearly characterized or determined; having a precise meaning.
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