Rebate Programs Tend to Be More Effective Than Other Promotions

question 63

True/False

Rebate programs tend to be more effective than other promotions because consumers get excited about them and this leads consumers to wait patiently until one is offered before making a purchase.

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Definitions:

Equilibrium

A state in which market supply and demand balance each other, and, as a result, prices become stable.

Aggregate Demand

The aggregate need for every good and service within an economy, measured at a certain fixed price level during a specific time frame.

Aggregate Supply

Aggregate supply is the total supply of goods and services that firms in a national economy plan on selling during a specific time period, under a given price level.

Aggregate Production

The total amount of goods and services produced within an economy at a given overall price level in a given period.