The Amount of Time a Consumer Spends on an External

question 50

Essay

The amount of time a consumer spends on an external information search depends on three factors. What are they?

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Definitions:

Disinflation

A slowdown in the rate of inflation; the process whereby price increases slow down, but the general price level does not decrease.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two consecutive quarters.

Age Group

A classification of people based on their age, typically used in demographics, marketing, and social studies.

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment, often used as an indicator of the health of an economy.