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Priscilla, a customer service representative at a call center, adds to her job by asking customers how much they liked their previous purchase. Priscilla is engaged in job
Inelastic Demand
A situation where the demand for a product does not change significantly with a change in price.
More Elastic Demand
A situation where the demand for a product is more sensitive to changes in price, meaning quantities demanded change significantly even with small price fluctuations.
Competitive Advantage
A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.
Foundation for Success
The essential elements or conditions that must be in place to achieve positive outcomes or success.
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