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Only if the two products satisfy the three conditions, will they be classified as close substitutes according to economic theory. The opposite of a substitute good is a complementary good, these are goods that are dependent on another. An example of complementary goods are cereal and milk. An example of substitute goods are tea and coffee.
By Geoff Roth Last week we took a look at customer horror stories that would make many workers want to throw in the towel after having to deal with them. Time now to turn the tables, and look at ...
A compliment sandwich [1] praise sandwich, or feedback sandwich is a rhetorical technique to deliver criticism in a way that it is accepted by the criticized person. It is named after the metaphor of a sandwich since it has three parts: [2] Praise of the addressee; Expressing what the speaker dislikes about the person; Further praise of the ...
How convenient is it to find a good cafe, restaurant or shop nowadays - after all, there are many great online services and apps for searching for any business in the area, where you can ...
Microaggression is a term used for commonplace verbal, behavioral or environmental slights, whether intentional or unintentional, that communicate hostile, derogatory, or negative attitudes toward those of different races, cultures, beliefs, or genders. [1]
While long-term success depends on quality products and good service, short-term growth is sometimes best achieved by cheating customers. 2. Short-Changing Employees
Pricing the base good at a relatively low price - this approach allows easy entry by consumers (e.g. low-price consumer printer vs. high-price cartridge) Pricing the base good at a relatively high price to the complementary good - this approach creates a barrier to entry and exit (e.g., a costly car vs inexpensive gas)
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