Answer:
The consumer price index is a systematic calculation used to estimate price increases in a basket of goods and services that are indicative of consumption expenditure in the economy.
Explanation:
The Consumer Price Index refers to a metric used to determine the weighted average price of a set of consumer goods and services, such as food, transportation, and healthcare. CPI is accountable for monitoring the change in retail prices of fundamental and everyday goods and services purchased by households across the world. Changes in the CPI are required to measure increases in the price of living. The CPI is one of the most commonly used indicators for the detection of inflation or deflation cycles.
With prestige goods and services, a higher price may, but not always, result in a higher sales volume.
<h3>What do economists mean by prestige goods?</h3>
Numerous products and services have prestige value, elevating the standing of their owners or users. Such items are referred to be prestige (or status, or positional) goods. These prestige products include things like jewelry, designer apparel, expensive homes and vehicles, and lavish entertainment.
<h3>Why is the demand curve for prestige items different?</h3>
Prestige goods may actually see an increase in demand as a result of price increases since customers perceive them to be more value. The demand curve slopes upward in certain circumstances.
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<span>Assesses the attractiveness of an SBU's market and the strength of its position in the market.</span>
The 529 plan is the plan that offers a tax-free education
