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Competitive Intelligence Is an Approach to Boundary Spanning Which Results

question 25

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Competitive intelligence is an approach to boundary spanning which results from using sophisticated software to search through large amounts of internal and external data to spot patterns, trends, and relationships that might be significant.


Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a specific price over a given period of time.

Quantity Demanded

The combined quantity of a product or service that consumers are inclined and ready to purchase at an identified price.

Excess Demand

A market condition where the quantity demanded of a product exceeds the quantity supplied at a given price, leading to upward pressure on prices.

Selection Bias

Selection bias occurs when the sample used is not random.

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