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When Pearl Love Introduced Its New Range of Body Wash,consumers

question 22

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When Pearl Love introduced its new range of body wash,consumers switched from using soaps,sold under the same brand,to its new body wash.As a result,the company experienced a sharp drop in its soap sales.This is best known as:


Definitions:

Income Distribution

The way in which a nation’s total earnings are spread among its population.

Economic Pie

A metaphorical representation of a country's total economic output or wealth, indicating how it may be divided or shared among different groups or sectors.

Tax and Transfer Programs

Government initiatives designed to redistribute income through taxation and then allocate these funds to various social welfare programs.

Allocating Income

The process of distributing earned income among various expenditures, savings, and investments.

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