When Customers Submit Their Name to a Drawing or 'Lucky

question 132

Multiple Choice

When customers submit their name to a drawing or 'lucky draw',this is called a ________.

• A)contest
• B)sweepstake
• C)game
• D)price pack
• E)None of the above.

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Definitions:

Output

The aggregate production of either goods or services by an organization, commercial sector, or the economy as a whole.

Diminishing Returns Effect

A principle in economics where increasing one factor of production, while keeping others constant, will at some point yield lower per-unit returns.

Variable Cost

Expenses that vary directly with the level of production output, such as raw materials, labor, and energy costs.

Output

The total amount of goods or services produced by a company, sector, or economy within a specific time period.