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List the Four Components of Aggregate Expenditure

question 71

Essay

List the four components of aggregate expenditure. Explain the two-way link with real GDP.


Definitions:

Niche Market

A specialized segment of a larger market, defined by its unique preferences, needs, or identity, often underserved by mainstream providers.

Product/Service

The combination of goods and services offered by a company to meet consumer needs and wants.

Loves to Do

Expresses the enjoyment or passion someone has for engaging in a particular activity or job.

Skunkworks

A project developed by a small and loosely structured group, often in secrecy, focused on innovative and radical solutions.

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