Exhibit 1-2 -____ Must Exist in Order for Gains from Trade to from Trade

question 135

Multiple Choice

Exhibit 1-2
-____ must exist in order for gains from trade to be realized.

• A)Governments
• B)Markets
• C)An increase in production
• D)Economic interaction
• E)Firms

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Definitions:

Brand Equity

The added value a brand name gives to a product beyond the functional benefits provided.

Consumer-Brand Connection

The emotional and psychological relationship between a consumer and a brand, often influencing loyalty and purchase decisions.

Legally Registered

The status of having officially recorded a business, organization, or product with the appropriate governmental or regulatory authority.

Trademark

A mark, verbiage, or set of words legally sanctioned or established by application as indicative of an enterprise or its offerings.