Complete the Following Analogy

question 95

Multiple Choice

Complete the following analogy. Insider perspective of the self: ________ : : ________: public.

• A) private; outsider perspective of the self
• B) public; outsider perspective of the self
• C) extrinsic; intrinsic
• D) intrinsic; extrinsic

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Definitions:

Services

Intangible products offered to consumers and other businesses, such as banking, education, and healthcare, which unlike goods, are not physical objects.

Autonomous Consumption

The level of consumption expenditure that occurs when income is zero, reflecting the basic level of consumption necessary for survival.

Wealth Effect

The change in spending that accompanies a change in perceived wealth, usually referring to the increase in consumer spending following an increase in asset values.

Consumption

The use of goods and services by households, constituting one of the primary components of aggregate demand in an economy.