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Briefly discuss the effect of prior experience with a product on consumer search behavior.
Capital Goods
Capital goods are physical assets that a business uses in the production process to manufacture products and services that consumers will later use.
Consumer Desire
The want for goods, services, or experiences that can provide satisfaction or utility to the consumer.
Profits of Industry
The total earnings of companies within a specific sector after subtracting costs and expenses.
Resources Employed
Refers to the allocation and utilization of resources such as labor, capital, and materials to produce goods and services.
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