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Briefly describe each of the four functions of management. Describe Mintzberg's managerial roles, and explain how they are helpful in performing the four functions of management.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers at various price levels.
Percentage Change
A mathematical calculation that indicates the degree of change over time, expressed as a proportion of the starting value.
Total Revenue
The complete amount of income generated by the sale of goods or services before any expenses are subtracted.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicative of the sensitivity of consumers to price changes.
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