:These are products or services that can replace each other. When the price of one good rises, the demand for its substitute may increase, and vice versa. For example, butter and margarine are substitute goods; if the price of butter goes up, people might

:This refers to the additional satisfaction or benefit gained from consuming one more unit of a good or service. It often decreases as more of the good or service is consumed, a concept known as diminishing marginal utility.

:This term describes a narrow-minded approach to marketing where a company focuses too much on its products and services rather than on the broader needs and wants of customers. It can lead to missed opportunities and an inability to adapt to changing mar

:This encompasses the visible elements of a brand (such as its logo, design, and color scheme) and how they contribute to the brand's image and perception in the market. It's essentially how a brand wants to be perceived by its target audience.

: This is a financial metric used to evaluate the profitability or efficiency of an investment. It is calculated by dividing the net profit from the investment by the initial cost of the investment and is typically expressed as a percentage.

:This refers to government policies regarding taxation and spending to influence a country's economic activity. By adjusting tax rates and government spending, fiscal policy aims to manage economic growth, control inflation, and reduce unemployment.