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BUYER'S REMORSE: The post purchase behavior a consumer experiences when one has doubts as to whether the purchase decision was correct or not. This is a possible step five in the decision making process (post-purchase behavior). It can be overcome by effective decision making upfront on the part of the consumer. The seller can help eliminate this by making follow-up calls or visits to reinforce the correctness of the decision on the part of a buyer.
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Lesson 1: Economic Basics | Unit 1: Economics
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Economics: A social science that studies the allocation of scarce resources used to produce goods and services that satisfy consumers' unlimited wants and needs.Key points in the study of economics: - Social Science: Economics uses the scientific method to explain and study our society.
- Allocation: Economics studies allocation decisions about distributing resources, goods and services.
- Scarce Resources: The economy's resources are limited relative to their use.
- Production: We transform available resources into goods and services. That's production.
- Consumption: The goods and services produced are used to satisfy wants and needs. That's consumption.
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GOVERNMENT EXPENDITURES Spending by the government sector including both the purchase of final goods and services, or gross domestic product, and transfer payments. Government expenditures are used by the government sector to undertake key functions, such as national defense and education. These expenditures are financed with a combination of taxes and borrowing.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for rusty deck screws.
Your Complete Scope
This isn't me! What am I?
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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JLE
Journal of Law and Economics
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