The ____________S That Due to the Presence of Substantial Scale

question 21

Multiple Choice

The ____________s that due to the presence of substantial scale economies,world demand will support only a few firms in many industries.

• A)Heckscher-Ohlin theory
• B)Leontief paradox
• C)product life-cycle theory
• D)new trade theory

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Definitions:

Price-prestige

The phenomenon where consumers perceive higher-priced goods to be of superior quality, leading to a positive correlation between price and the amount of prestige or status believed to be conferred by a good.

Promotional Mix

The combination of marketing tools used by a business to execute its promotional strategy, including advertising, sales promotion, public relations, and direct marketing.

Personal Selling

A direct marketing approach involving face-to-face sales presentations to potential buyers to persuade them to make a purchase.

Nonpersonal Selling

Marketing activities that do not involve face-to-face interactions, including advertising, social media marketing, and email marketing.