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Explain the concept of landed cost and discuss how it is used to make global sourcing decisions.
Murray Weidenbaum
An economic advisor and scholar known for his work on public policy and regulation, serving as the chairman of the Council of Economic Advisers under President Ronald Reagan.
Induced Consumption
The concept that the level of consumer spending increases as disposable income rises, and decreases as disposable income falls, all else being constant.
Induced Consumption
Induced consumption is the portion of consumer spending that increases with an increase in disposable income.
Disposable Income
The finance available to households for expenditures and saving after reducing income taxes.
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