Explain each in the context of specific product and service

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Please help me understand this concept and question, please limit to 2-3 paragraphs in full, for my college-level economics course:

Throughly explain each of Friedman's 4 ways to spend money. Explain each in the context of a specific product or service. What can we expect in terms of both price and quality for products purchased under each of the four circumstances. Which is the most efficient and which is the least efficient and why?

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Reference no: EM131244314

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