Consumer Spending

question 16

Multiple Choice

Consumer spending

• A)Is the smallest spending component.
• B)Impacts the aggregate supply curve.
• C)Is affected by consumer confidence.
• D)Is the same as autonomous saving.

---

Definitions:

Rights and Duties

The legal responsibilities (duties) and entitlements (rights) that are inherent in social and legal norms, contracts, or regulatory frameworks.

Possession

The state or fact of owning, controlling, or having something in one’s own keeping.

Incidental Damages

These are secondary expenses or losses incurred due to a breach of contract, such as storage or transportation costs.

Rightfully Rejected

This term refers to the lawful refusal of accepting goods or services due to non-compliance with contractual terms.