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The term BUSINESS CYCLE is a popular way to describe the rescission-expansion pattern followed by the economy.
Answer: advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
Explanation: Sales promotion are promotional activities used to stimulate consumers into purchasing a certain product. Sales promotion usually takes the form of giving discounted prices to customers, giving out extra incentive or gift items, freebies, voucher cards, coupon and other promotional offers which gives consumers extra material benefit when they purchase an item. Promotional offers are usually made during certain periods such as festive seasons, company anniversary or occasionally in other to drive sales or to wow customers.
This test that Albert Chong and his colleagues carried out was most relevant for evaluating the allocative efficiency of these postal services because the test was designed to measure how often and how quickly the letters sent were returned to sender.
Examples of barriers to entry include Patents.
<h3>What Are Barriers to Entry? </h3>
A term used in economics and business to describe variables that can deter or make it difficult for newcomers to enter a market or industry sector and so limit competition is "barriers to entry." These might include prohibitive startup fees, bureaucratic roadblocks, or other barriers that make it difficult for new rivals to enter a market. Existing businesses win from entrance barriers because they preserve their market share and capacity to make money.
There are four main types of barriers to entry:
- legal (patents/licenses),
- technical (high start-up costs/monopoly/technical knowledge),
- strategic (predatory pricing/first mover),
- brand loyalty.
Most people think of patents as temporary entry barriers put in place by the government. Patent protection, however, typically restricts access rather than blocking it. A business may enter a market that is protected as long as its product complies with a minimum standard of novelty and does not violate any active patents.
To know more about barriers to entry refer to: brainly.com/question/12589254
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