What Is an Accurate Definition of Impulse Products

question 333

Multiple Choice

What is an accurate definition of impulse products?

• A) Products that potential customers do not want yet or know they can buy
• B) Bought quickly-as unplanned purchases-because of a strongly felt need
• C) Any products that consumers search for because of a strongly felt craving
• D) Any convenience products that are bought often and routinely
• E) Any product bought for an immediate need or requirement.

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Definitions:

Progressive Rate Structure

This is a tax system in which the tax rate increases as the taxable base amount increases, typically applied to incomes to ensure higher earners pay a greater percentage of their income.

Regressive Rate Structure

A tax system where the tax rate decreases as the taxable amount increases, placing a higher burden on lower earners relative to higher earners.

Marginal Tax Rate

The rate at which the next dollar of taxable income will be taxed, a tool used to gauge the impact of additional income or deductions on income tax.

Taxable Income

The amount of income used to calculate how much the tax will be for an individual or a corporation, after all deductions and exemptions.