When Differentiated, Products Can Then Be Branded

question 87

Essay

When differentiated, products can then be branded. List and explain the possible ways that physical products can be differentiated.

---

Definitions:

Equilibrium Price

The cost at which the amount of products offered matches the amount of products requested.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a certain period of time.

Nonbinding

Describes a regulation or condition that does not restrict the actions or choices of the individuals or entities it applies to.

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity of goods demanded.