Explain Discretionary Spending

question 23

Essay

Explain discretionary spending.

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Definitions:

Sugar Beets

A plant whose root contains a high concentration of sucrose and which is grown commercially for sugar production.

Refined

Improved or made more elegant or sophisticated through careful modification.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity supplied, typically upward sloping.

Rare Earth Metals

A group of 17 chemically similar elements critical in many high-technology devices like smartphones, wind turbines, electric vehicles, and various defense applications.