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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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AGGREGATE EXPENDITURES The total expenditures on gross domestic product undertaken in a given time period by the four sectors--household, business, government, and foreign. Expenditures made by each of these sectors are commonly termed consumption expenditures, investment expenditures, government purchases, and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics, playing critical roles in Keynesian economics, aggregate market analysis, and to a lesser degree, monetarism. In particular, aggregate expenditures are combined with the price level as aggregate demand.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction trying to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"When the solution is simple, God is answering." -- Albert Einstein
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LIFO
Last In First Out
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