Examlex
Define and describe franchising.What are the three major forms of franchising?
U.S. GDP
U.S. Gross Domestic Product reflects the total monetary or market value of all the finished goods and services produced within the United States' borders in a specific time period.
Income Inelastic
A characteristic of a good whose demand does not significantly change as the income of consumers changes.
Price Inelastic
Describes a situation in which the demand for a good or service is relatively unresponsive to changes in price.
Price Inelastic
Describes a situation where the quantity demanded of a good does not significantly change when its price changes.
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