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An externality is the effect of an economic transaction on a third party not involved in the original economic transaction, and can be negative or positive. Negative: Pollution. Positive: Education

Fiscal policy is the means by which the government modifies its spending and tax rates as a means to influence the economy

PESTLE method, and SWOT method - to be explained further

PED measures the responsivness of demand after a fluctuation in price

The marketing mix, commonly associated with the 4Ps, describes the various factors that firms consider when marketing a product. These marketing mix is based upon the firm’s knowledge of its customers ...