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BRAND RECOGNITION: The awareness on the part of the consumer that a brand exists and is an option to purchase. Companies work hard and spend considerable resources in an effort to facilitate brand recognition. By doing so, a company hopes to increase market share and develop brand loyalty. Scarcity Stan's Ye Olde Bakery Shoppe and Confectionery Palace spent a lot of time and money developing its brand name in Shady Valley.
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PRICE RATIONING The distribution or allocation of a limited commodity using markets and prices. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses. Markets ration commodities by limiting the purchase only to those buyers willing and able to pay the price.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"When you play, play hard; when you work, don't play at all. " -- Theodore Roosevelt, 26th US president
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ITO
International Trade Organization
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