The Vast Array of Goods Consumers Buy Can Be Classified

question 147

Multiple Choice

The vast array of goods consumers buy can be classified on the basis of shopping habits. We can distinguish among convenience, ________, specialty, and unsought goods.

• A) shopping
• B) functional
• C) business
• D) "must haves"
• E) impulse

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Definitions:

Reserves

Assets held by financial institutions or central banks as a requirement or for ensuring liquidity in times of need, including cash, deposits, or securities.

Money Supply

The Money Supply is the total amount of monetary assets available in an economy at any specific time, including cash, coins, and balances held in checking and savings accounts.

Interest Rates

The expense incurred when taking out a loan, usually shown as a percent of the total amount loaned.

Federal Funds Market

A U.S. financial market allowing banks to borrow and lend excess reserves to each other, usually overnight, at an interest rate called the federal funds rate.