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FIGURE 5-8
-When Clorox uses the Good Housekeeping Seal for its Fresh Step cat litter, in Figure 5-8 above, their strategy is to reduce the consumer's __________ and encourage purchases.
Special-interest Effect
The impact of a small, organized group on political or economic decisions, often in a way that benefits the group at the expense of the general public.
Positive Externalities
Benefits experienced by third parties due to the actions of others, for which the third party does not pay.
Chronic Budget Deficits
Persistent shortfalls in a government's budget where expenditures surpass revenues over an extended period.
Unfunded Liabilities
Financial obligations that do not have enough funds set aside to cover them, often relating to pensions or other long-term commitments.
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