Examlex
Instructions: Identify the terms and briefly state their historical significance.
Kush
Price Elastic
The degree to which the demand for a product changes in response to a change in its price.
Price Inelastic
Characterizes a situation where the demand for a good or service does not significantly change with a change in its price.
Price Volatile
Refers to sudden and significant price changes within short periods, often seen in markets for commodities or securities.
Marketing Mix
The factors that a business can change in selling products to customers—product, place, price, and promotion.
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