employees who use entrepreneurial skills, without having to risk their own money, to find and develop initiatives that will have financial benefits for their employer
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What factors influence PED?
Time/competition for same product/branding/the proportion of income spent on product
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What factors lead to a change in supply?
Changes in the costs of production/introduction in new technology/indirect taxes/government subsidies/external shocks
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What factors lead to a change in demand?
prices of substitutes/prices of complements/changes in consumer incomes/fashions/advertising and branding/demographics/external shocks
4 of 5
What is PED?
The responsiveness of demand to a change in price
5 of 5
Other cards in this set
Card 2
Front
What factors influence PED?
Back
Time/competition for same product/branding/the proportion of income spent on product
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