Which Statement Is True

question 72

Multiple Choice

Which statement is true?

• A)The entire expansion from the trough to the peak is the recovery phase.
• B)The entire contraction from the peak to the trough is the recession phase.
• C)Recessions never last more than one year.
• D)Prosperity is the first phase of expansion.

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Definitions:

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over competing ones due to their trust and satisfaction with the brand.

Rewards Program

A marketing strategy designed to encourage customer loyalty by offering incentives, such as points, gifts, or discounts, for frequent or sizable purchases.

Marketing Strategy

a company's plan designed to promote products or services to reach a specific target market, involving decisions on product, price, place, and promotion.

Frequent Purchases

Transactions that occur regularly over a period, often for everyday goods or services that require replenishment or constant demand.