The Example of General Motors Dropping the Oldsmobile Brand Illustrates

question 38

Multiple Choice

The example of General Motors dropping the Oldsmobile brand illustrates the fact that

• A) brands are ultimately unimportant to the customer,regardless of their history.
• B) this brand appealed to a generation which is no longer actively spending money.
• C) this brand no longer conveyed specific benefits and features that satisfied target customer needs.
• D) brands are fungible properties of products.

---

Definitions:

Keynes

Refers to John Maynard Keynes, a British economist whose theories on government spending and monetary policy formed the basis of Keynesian economics.

Aggregate Supply Curve

Graphical representation showing the total quantity of goods and services that producers in an economy are willing and able to supply at different price levels.

Price Level

An index that measures the average of current prices across the entire spectrum of goods and services produced in the economy compared to a base year.

Aggregate Supply Curve

A diagram that exhibits the comprehensive volume of goods and services that economic producers are ready and capable of supplying at assorted price levels.