The Narrower the Definition of a Product?


The narrower the definition of a product the greater the price elasticity of demand for the specific product. It can also said be said as the larger the number of substitutes then the larger the price elasticity of demand. When talking about math the definition of product is the answer you get when numbers are multiplied together.
Q&A Related to "The Narrower the Definition of a Product"
A product is something that is produced by a machine or by a human. In chemistry a product is a substance that forms as a result of a biological or chemical reaction.
Become or make less wide: "the road narrowed and crossed an old bridge" "the embankment was built to narrow the river" "Her eyes narrowed showing she was
A marketing plan typically contains an overview of the company (and customer) goals, a product description/definition detailing how a product meets or furthers these goals, and the
Creation of significantly different solutions to problems and opportunities that are currently not addressed, and fulfills the desires and needs of a community of users. Innovation
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The term narrow means limited width or of small width mainly when they are comparing it with length. This word may also mean lacking flexibility or rigid for example ...
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There are different ways of defining a product. A product is defined as the result of a process or an act. In mathematics, a product is the result of multiplying ...
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