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Explain the three types of decisions in international business.
Own-price Elasticity
A measure of how sensitive the quantity demanded of a good is to a change in its own price, reflecting the responsiveness of demand to price changes.
Quantity Demanded
The quantity of a product that buyers are ready and capable of buying at a specific price.
Shoes
Footwear items designed to protect and provide comfort to the human foot while performing various activities.
Elasticity of Demand
A measure of how much the quantity demanded of a good changes in response to a change in the price of that good.
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