The Name, Phrase or Symbol That Help Consumers Identify a Unique

question 105

Multiple Choice

The name, phrase or symbol that help consumers identify a unique product are called the

• A)Product mix
• B)trademark
• C)Brand
• D)license

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Definitions:

Efficiency

The extent to which resources are used optimally to achieve the desired output, often maximizing productivity while minimizing waste.

Output Market

A marketplace in which finished goods and services are traded, involving businesses selling to consumers or other businesses.

Marginal Rate

The rate of change in a quantity or cost in response to a one-unit change in another variable.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs.