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EOPA JReid2

Entrepreneurship

TermDefinition
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
Created by: jamalreid2018