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June 14, 2024 

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ECONOMIC PRODUCTION: The production of final goods and services taking place during a given time period. The emphasis here is on time period, especially the CURRENT time period. Gross domestic product is the macroeconomy's prime measure of current production. Current production is best contrasted with transactions for past production and future production, both of which are excluded from gross domestic product.

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CONSUMER BEHAVIOR: Actions (that is, behavior) undertaken by people (that is, consumers) that involve the satisfaction of wants and needs. Such actions often, but not always, involve the acquisition (that is, purchase) of goods and services through markets. The study of consumer behavior is fundamental to the understanding of the demand-side of the market. From a marketing perspective, the patterns, actions or steps in the process of decision making by consumers. The decision making process is influenced by various attitudes, motives, and social influences on the purchaser. Buyers tend to behave in certain ways including habits, brand loyalty, and post purchase behavior.

     See also | demand | utility | satisfaction | market | consumer demand theory | decision making process | branding | buyer’s remorse | attitudes | motives | sociocultural factors |


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INVESTMENT EXPENDITURES

Expenditures made by the business sector on final goods and services, or gross domestic product, especially the purchase of productive capital goods. Investment expenditures play a central role in macroeconomic activity affecting both short-run business cycles and long-run economic growth. These expenditures reflect the general act of investment involving foregoing current satisfaction to produce capital goods and are officially measured by gross private domestic investment. These are one of four expenditures on gross domestic product. The other three are consumption expenditures, government purchases, and net exports.

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