Economic Growth

question 13

Multiple Choice

Economic growth

• A) leads to less consumption in the present and increased consumption in the future.
• B) is free.
• C) is the major reason we face scarcity.
• D) allows us to increase our consumption in the present and in the future.

---

Definitions:

Segmentation

The process of dividing a market into smaller groups with similar needs or characteristics to target marketing efforts more effectively.

Market Loyalty

Market loyalty refers to the preference and consistent choice of customers for a specific brand, product, or service over competitors, often influenced by satisfaction, quality, and emotional connection.

Global Scale

Refers to the scope or extent of activities, operations, or phenomena that span across multiple countries and cultures, impacting or involving the global population.

Target Markets

Specific groups of potential customers that a business aims to reach with its products, services, and marketing efforts.