Examlex
What are some of the special challenges involved in investigating illegal activities of gangs?
Differentiated Products
Goods or services that are distinguished from each other based on quality, features, or branding, making them non-identical from a consumer's perspective.
Elastic Demand
A situation where the demand for a product is sensitive to price changes, meaning small price changes lead to large changes in quantity demanded.
Barriers To Entry
Factors that prevent or hinder new competitors from easily entering an industry or area of business, often maintaining high levels of profit for those already established.
Product Differentiation
The process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.
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