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Binet and an Associate Created a Test Made Up of "Intellectual

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Binet and an associate created a test made up of "intellectual" questions and problems and learned which questions an average child could answer at each age. Then, they gave other children this test and were able to tell whether a child was


Definitions:

Five Forces Model

A framework developed by Michael Porter used to analyze the competitive environment in which a company operates, considering five forces that shape competition.

Competitive Forces

The various external factors that influence the competitive position and market power of a business within its industry.

Level of Competition

Describes the intensity and number of competitors in a market, which can influence pricing, product innovation, and consumer choice.

Profitability

The degree to which a business or activity yields profit or financial gain.

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