Examlex
A high school principal recommends a select list of students for university entrance scholarships.Schools are responsible for identifying the most qualified people to fill available positions in society.Which function of education is this an example of?
Elastic
Describes a situation in economics where the quantity demanded or supplied of a good or service greatly changes in response to changes in price.
Porter's Five Forces
A framework for analyzing a company's competitive environment, including threats from new entrants, bargaining power of suppliers and customers, threats from substitute products or services, and competitive rivalry.
Bargaining Power
The ability of a party to exert influence or control over the terms and conditions of negotiations due to its strengths or advantages.
Substitutes
Alternatives or replacements for someone or something, typically used in the context of materials, products, or personnel.
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