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BRAND PREFERENCE: The amount of brand loyalty a customer has toward a specific product or service. Some customers are fanatical about a certain brand and will not switch or even consider another substitute. That being said, brand loyalty is sometimes very sensitive to price fluctuations. In the soft drink industry, many consumers will switch back and forth between Pepsi and Coke, depending on which is on sale. These consumers might prefer one product to the other, but are not absolutely loyal or brand insistent.
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MARKET SOCIALISM A type of economy, or economic system, based on--(1) government, rather than individual, ownership of many resources, especially those like heavy manufacturing, energy reserves, widely used raw materials (lumber, steel), and transportation systems, that are deemed critical to the operation of the economy; (2) answering three questions of allocation with a combination of central planning by government and decentralized decision-making by individual factories and the owners of non-critical resources; (3) the limited use of markets to exchange farm products and retail consumer goods; (4) economic and monetary incentives, such as bonuses, paid to the workers of government-owned facilities to encourage efficiency and increased productivity.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for crowded shopping malls.
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The average length of a "business lunch" is about 36 minutes.
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"Concentration is the secret of strength in politics, in war, in trade, in short in all management of human affairs. " -- Ralph Waldo Emerson, philosopher, poet
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Income, Nominal Gross National Product
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