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Explain about the Shopping Goods
These are goods that are purchased less frequently and are used very slowly such as clothes, shoes, household appliances. In case of these goods, consumers make choice of a product considering its suitability, price, quality, style and products of competitors and substitutes, if any. Or we can say, consumers usually spend a considerable amount of time and effort to finalise their purchase decision as they lack complete information before their shopping trip. It may be noted that shopping goods include much more expenses than convenience goods.
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Question 1: Consumers must constantly make decisions regarding what products or services to buy and where to buy them. Because the outcomes of such decisions are often uncertai
Y= P(1+(r/100))^t
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