Examlex
It has been said that the only difference between the man who attempts and fails and another who attempts and succeeds may be chance.
Product Differentiation
A marketing strategy that businesses use to distinguish their products from those of competitors by emphasizing unique features, quality, or design.
Purely Competitive
A market structure characterized by a large number of firms producing homogenous products and where no single firm has significant control over the market price.
Inelastic Demand
A situation where the demand for a good or service is not significantly changed by the changes in its price.
Maximize Profits
The objective of increasing a company's earnings to the highest possible level.
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