Answer:
Highly inelastic
Explanation:
Price elasticity of demand is a measure of the demand of a given service or commodity by utilizing it's price change. It can be calculated using the formula;
Price elasticity of demand=%change in quantity demanded/%change in price
%change in quantity demanded=((Final demand-Initial demand)/Initial demand)×100
((299-300)/300)×100=-0.33%
%change in price=12%
12%>0.33%
The change in price is larger than the change in demand, therefor the product is highly inelastic
Answer:
Project planning plays an essential role in helping guide stakeholders, sponsors, teams, and the project manager through other project phases. Planning is needed to identify desired goals, reduce risks, avoid missed deadlines, and ultimately deliver the agreed product, service or result.
Explanation: The key in planning is to look at each of the knowledge areas below and make sure you and your team will address each of these areas in ways that will help reach all the end goals.
Communications
Costs
Human resources
Procurement
Quality of deliverables
Business requirements
Risks
Schedules
Project scope
Stakeholders
The key to a successful project is in the planning. Creating a project plan is the first thing you should do when undertaking any project.
Often project planning is ignored in favor of getting on with the work. However, many people fail to realize the value of a project plan for saving time, money and many problems.
Answer:
Successful innovation allows you to add value to your business so that you can increase your profits—if you don't innovate well, your business will plateau. Innovation helps you stay ahead of the competition. With globalization and a rapidly changing market, there are more competing businesses than ever before.
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