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State the term- Consumer goods
Goods meant for personal consumption by households or ultimate consumers are known as consumer goods. This includes items such as toiletries, groceries, clothes etc. Based on consumers' buying behaviour consumer goods can be further classified as:
(i) Convenience Goods;
(ii) Shopping Goods; and
(iii) Speciality Goods.
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Suppose D1 represents the demand curve for paperback novels, D2 represents the demand curve for gasoline, S1 represents the supply curve for paperback novels and S2 represents the
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if a consumer buys an item through a catalog over the phone with a credit card, is the credit card a channel member?
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