Brand Names Must Have an Inherent Meaning

question 5

True/False

Brand names must have an inherent meaning.

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Definitions:

Optimal Plant Size

The scale of production at which a firm can produce goods at the lowest average cost, maximizing efficiency.

Fixed Factors

Resources in production that cannot be easily increased or decreased in the short term, such as land or certain machinery.

Capital-Intensive

A characteristic of industries or businesses that require large amounts of capital investment in machinery and equipment relative to labor to produce goods or services.