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A journal states on its editorial page, "A query letter is required before article submission to this refereed journal. If a manuscript is requested, both hard copy and an electronic copy will be required. After initial acknowledgement of receipt, authors will receive a response from the editor within 4 months." What does this statement mean?
Innovation
The process of transforming ideas into new or improved products, services, or processes, driving economic growth and solving problems.
Horizontal Differentiation
Variability of products that are essentially similar but differ in terms of attributes like design, flavor, or brand.
Consumer Welfare
The overall satisfaction, utility, or economic well-being that consumers experience from purchasing and consuming goods and services.
Advertising
The action of calling public attention to products, services, needs, etc., especially by paid announcements in newspapers and magazines, over radio or television, on billboards, etc.
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