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Define Convenience, Shopping, And, Unsought Products and Give an Example

question 71

Essay

Define convenience, shopping, and, unsought products and give an example of each.


Definitions:

Gross Income

The total revenue generated from sales or services before any deductions are made for expenses.

Inflation

A general increase in prices and fall in the purchasing value of money.

Disposable Income

The amount of money individuals have available to spend and save after taxes have been deducted from their income.

Economize

The action of reducing expenditure or efficiently managing resources to avoid waste and save money.

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