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DECISION MAKING PROCESS: The five step decision making process the consumer uses to complete a purchasing decision. Step one is defining the problem. Step two is collecting data on possible choices. Step three is evaluating the alternatives. Step four is making a decision. Step five is post-purchase behavior, sometimes buyerÕs remorse.
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ECONOMICS: A social science that studies the allocation of limited resources to the production of goods and services used to satisfy consumer's unlimited wants and needs. Five notable phrases contained in this definition that need further study are: (1) social science, (2) allocation, (3) limited resources, (4) production, and (5) unlimited wants and needs. See also | social science | allocation | scarcity | limited resources | unlimited wants and needs | production | consumption | satisfaction | goods | services | scientific method | macroeconomics | microeconomics | positive economics | normative economics | economist | Smith, Adam |
Recommended Citation:ECONOMICS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: April 19, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: economics
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INVESTMENT The sacrifice of current benefits or rewards to pursue an activity with expectations of greater future benefits or rewards. Investment is the mechanism used to increase the economy's production capabilities and generate economic growth. Investment is typically used to mean the purchase of capital by business in anticipation of profit, which is termed investment expenditures.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for rusty deck screws.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"The road to success is always under construction. " -- Lily Tomlin, Actress
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BA
Bank Acceptance
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