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Describe what constitutes a stakeholder and then identify which of the following would be a stakeholder for a business that uses the corporate business structure.Explain the basis for each of your choices.
a.The Internal Revenue Service
b.Mayor of town in which corporation is located
c.The Chief Executive Officer of the company
d.President of competing business.
Complement Good
A product that is used together with another product, where the use of one increases the demand for the other.
Substitute Good
A product or service that can be used in place of another to satisfy the same need or desire.
Price Sensitive
Being price sensitive means the demand for a product or service is highly influenced by changes in its price, where consumers may alter their buying habits significantly in response to pricing adjustments.
More Inelastic
A description of a product or service demand that is less sensitive to price changes compared to others.
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