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Tel: (612) 246-4616
Tel: (612) 246-4616
AACSB - Association to Advance Collegiate Schools of Business is a global, nonprofit membership organization of educational institutions, businesses, and other entities devoted to the advancement of management education. Established in 1916, AACSB International provides its members with a variety of products and services to assist them with the continuous improvement of their business programs and schools.
NOMINAL RETURN is an investment return that does not take into account the effects of inflation on the investment or return.
PRICE ELASTICITY is the degree to which customers respond to price changes (calculation: % change in quantity divided by % change in price). A value greater than 1 = customers exhibit a good sensitivity to price. A value less than 1 = customers are insensitive to price. Price Elasticity is if a small change in price is accompanied by a large change in quantity demanded, the product is said to be elastic (or responsive to price changes). A product is inelastic if a large change in price is accompanied by a small amount of change in demand.
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