List the Five Steps in the Consumer Buying Process,in Other

question 176

Essay

List the five steps in the consumer buying process,in other words,how consumers decide to buy products.

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Definitions:

Planned Investment

Expenditures on capital goods by firms, intended to increase their future production capacity.

Marginal Propensity

The fraction of an additional amount of income that is spent on consumption.

Aggregate Expenditure

The total amount spent on national-level goods and services in an economy.

Disposable Income

Income available to households after accounting for taxes and social security charges, available for spending or saving.