Changes in Aggregate Demand Can Cause Fluctuations in _____ and _____

question 104

Short Answer

Changes in aggregate demand can cause fluctuations in _____ and _____ in the short run, and only ____ in the long run.

---

Definitions:

Product Element

The specific components or features of a product that contribute to its ability to meet customer needs, including quality, design, brand, and functionality.

Marketing Mix

The set of controllable marketing tools - product, price, place, and promotion - that a company uses to produce the response it wants in the target market.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales.

Competitive Advantage

A unique attribute or ability that allows an organization to outperform its competitors.