Who Are the People Who Shoplift and What Can the Small

question 108

Essay

Who are the people who shoplift and what can the small business owner do to deter shoplifting?

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Definitions:

Demand

Represents the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.

Consumer Surplus

The contrast between the overall amount consumers are willing to pay for a good or service and the total they actually pay.

Supply

The total amount of a good or service that producers are willing and able to sell at a given price over a certain period.

Consumer Surplus

The rift between what consumers are economically prepared to spend on a service or product and their actual spending.