Which Type of Product Is a Basic or Necessary Item

question 53

Multiple Choice

Which type of product is a basic or necessary item that is available almost everywhere?

• A) emergency product
• B) staple product
• C) impulse product
• D) shopping product
• E) unsought product

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Definitions:

Disposable Income

The net income available to an individual or household for saving or spending after income taxes have been deducted.

C + I

An abbreviation for "Consumption + Investment," which are components used in calculating gross domestic product (GDP) in the expenditure method.

Disposable Income

Money that households can allocate towards savings and spending after income tax charges.

C + I

An economic term that represents the sum of consumer spending (C) and investment spending (I); key components of the Gross Domestic Product (GDP) formula.