The Largest Category for the Cost of Raising a Child

question 71

Multiple Choice

The largest category for the cost of raising a child from birth to age seventeen is:

• A) clothing.
• B) transportation.
• C) health care.
• D) housing.

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Definitions:

Four Ps

A marketing mix concept that includes Product, Price, Place, and Promotion, used for effective marketing strategy planning.

World of Trade

An encompassing term that refers to the global network of buyers, sellers, markets, and exchanges involved in the production, distribution, and consumption of goods and services.

Personal Selling

The two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision.

Economies of Scale

The reduction in per-unit cost achieved by an increase in production volume, allowing businesses to spread fixed costs over more units.