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Innovative cultures encourage employees to be creative without fear of punishment if they fail.
Price Elasticity
A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price, indicating the sensitivity of demand or supply to price changes.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price, holding all other factors constant.
Inelastic
Refers to a scenario in which a change in price leads to a comparatively small change in the quantity demanded or supplied.
Price Elasticity
An indicator of the sensitivity of the demand for a product to alterations in its price.
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