Complete the Following Using the Terms Listed Below

question 50

Multiple Choice

Complete the following using the terms listed below:
-The amount of goods and services available at various prices is known as ______.

• A)Consumer Price Index (CPI)
• B)inflation
• C)gross domestic product (GDP)
• D)fiscal policy
• E)monetary policy
• F)equilibrium price
• G)budget deficit
• H)pure competition
• I)supply
• J)demand
• K)productivity
• L)recession
• M)microeconomics
• N)oligopoly
• O)monopoly

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Definitions:

Cost-Of-Living Index

Ratio of the present cost of a typical bundle of consumer goods and services compared with the cost during a base period.

Utility Level

A gauge of the pleasure or fulfillment obtained by a customer through the use of goods and services.

Consumer Satisfaction

Consumer satisfaction measures how products or services provided by a company meet or surpass a customer's expectation.

Necessities

Basic needs or essential items required for living and maintaining a good life.