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If the Cost of the Market Basket in the Base

question 172

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If the cost of the market basket in the base year is $1,000 and the cost of the market basket in 2013 is $1,080, the price index for 2013 is 80.


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Small Business Management

The ongoing process of owning and operating an established business.

Triggering Event

A specific occurrence that causes a process to start, or significantly impacts the course of an ongoing situation.

Product Opportunities

Potential areas or ideas within a market where a new product could be developed to meet a consumer need or demand.

Entrepreneur

An individual who initiates, organizes, and operates a business venture, assuming most of the risks and enjoying most of the rewards.

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