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FIGURE 2-6
-Refer to Figure 2-6. If you start from the Bakery, travel to the Cafe, and then to the Art Gallery, what is the distance you have traveled?
Entrepreneurship
Willingness to take risks to create and operate a business.
Innovation
The process of creating, developing, and implementing new products, processes, or ideas to improve efficiency, effectiveness, or competitive advantage.
Aging Population
refers to the demographic trend of an increasing average age in a population, often resulting in higher proportions of elderly people and various social and economic implications.
Stagnating Wages
The phenomenon where wages remain constant over time without significant increases, often leading to decreased purchasing power due to inflation.
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