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When Looking to Purchase a Mobile Phone,describe the Components That

question 42

Essay

When looking to purchase a mobile phone,describe the components that make up the total product.


Definitions:

Market

A system through which buyers and sellers interact to trade goods, services, or resources.

Law Of Supply

The principle that, all else equal, an increase in the price of a good will result in an increase in the quantity supplied.

Suppliers

Entities or individuals that provide goods or services to consumers, businesses, or other organizations.

Good

A physical item that is produced and can be offered to the market to satisfy a want or need.

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