Which Statement Is NOT a Key Principle of Economics

question 93

Multiple Choice

Which statement is NOT a key principle of economics?

• A) People follow incentives.
• B) Productivity determines the standard of living.
• C) Rational thinking requires perfect information.
• D) Government can sometimes correct market failure.

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Definitions:

Private-label Brands

Brands that are owned by a retailer or supplier but contracted out to another manufacturer to produce.

Co-branding

A marketing partnership between at least two different brands of goods or services, aiming to combine the market strength, brand awareness, positive associations, and cachet of two or more brands to compel consumers to pay a greater premium for them.

Brand Dilution

The weakening of a brand's strength or value due to its overuse, mismanagement, or excessive extension into areas outside its core competencies.

Brand Extension

The strategy of using an existing brand name to launch a new or modified product in a different category.