Economists Defend Brand Names as Useful to Consumers Because Brand

question 523

Multiple Choice

Economists defend brand names as useful to consumers because brand names

• A)provide consumers with information about quality when quality cannot easily be judged in advance of purchase.
• B)give firms a financial incentive to maintain the high quality associated with their brand name.
• C)convince consumers to spend more for products nearly identical to generic versions.
• D)Both a and b are correct.

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Definitions:

Describe

To give an account of something through detailed and precise language, outlining characteristics, functions, and attributes.

Occipital Lobe

The occipital lobe is the region of the cerebral cortex located at the back of the brain, primarily responsible for processing visual information.

Stimulated

Excited to action or increased activity through external or internal means.

Flash of Light

A sudden and brief burst of bright light, often used in various contexts including photography, signaling, and scientific experiments.