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EOPA JReid2
Entrepreneurship
Term | Definition |
---|---|
What are the four stages of theProduct Life Cycle | Four stages that a product goes through over its life : Introduction, growth, maturity, and decline |
Introduction Stage | The product life- cycle stage in which the new product is first distributed and made available for purchase. |
Growth Stage | The product life cycle stage in which sales rise rapidly |
Shopping Goods | Items purchased after comparing prices and features |
What are the 2 branches of Economics | Two branches of economics are macroeconomics and Micronomics |
Invisible Hand | Invisible hand is the economy grows and prosper through the efforts of improving their own situation in life |
Consumer Index | Measures changes in the prices of about 400 goods and services that consumers buy |
4 Phases of Business Cycles | Economic boom, Recession, a depression, Recovery |
Vulnerabliity | Threats to the strengths of a company |
PMI | Plus, Minuses, Implications |