Use the following to answer questions: 
-(Figure: The Minimum Wage) Use Figure: The Minimum Wage.Which point on the y-axis is a binding minimum wage?
Definitions:
Brand Loyalty
The tendency of consumers to continually purchase the same brand's products or services over time due to positive experiences and perceived value.
Market Segmentation Strategies
The process of dividing a broad consumer or business market into sub-groups based on shared characteristics, to tailor marketing strategies effectively.
Advantages and Disadvantages
A comparison of the positive aspects and drawbacks of a particular decision, product, or strategy.
Business Buying Process
A series of decisions made by organizations while purchasing products or services for operational, production, or reselling purposes.
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