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Explain how Sarbanes-Oxley of 2002 significantly changes how the FASB will operate in the future.
Elastic Demand
A situation where the demand for a good or service greatly changes in response to changes in price.
Direct Price Discrimination
A pricing strategy where a seller charges different prices to different customers for the same product or service, based on their willingness to pay.
Inelastic Demand
A situation in which demand for a good or service is barely affected by changes in price.
Elastic Demand
When consumer demand for a product significantly rises or falls following a small change in its price.
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