Overt Brand Names

question 122

Multiple Choice

Overt brand names:

• A)reveal what the brand does.
• B)capture the essence of the idea behind the brand.
• C)contain recognizable words or word parts that imply what the brand is about.
• D)do not reflect the brand's goods or services, but instead something that is unique, different, and memorable.

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Definitions:

Marginal Rate Of Technical Substitution

The rate at which one input can be reduced for an additional unit of another input, while keeping the level of output constant.

Marginal Rate Of Substitution

The rate at which a consumer is willing to substitute one good for another, keeping utility constant, reflecting the trade-offs between goods.

Efficiency

The extent to which resources are used optimally to achieve the desired outputs with minimum waste or effort.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.