Consumer Concepts

By gziegler15

  • CPI

    CPI
    CPI Q's & A's Measures changes in the price level of consumer goods and services purchased by households.

  • Service

    Service
    The action of helping or doing work for someone.

  • Goods

    Goods
    An economic good is a physical object or service that has value to people and can be sold for a non-negative price in the marketplace.

  • Inflation

    Inflation
    Inflation Q's & A's
    A general increase in prices and fall in the purchasing value of money.

  • Interest

    Interest
    Charge for the use of credit or money, usually figured as a percentage of the principal and computed annually. Simple interest is computed annually on the principal. Compound interest, paid by some savings banks, computes the interest on the principal as well as on any previous interest that has been added to the principal.

  • Budget

    Budget
    Budget Q & A's
    An estimate of income and expenditure for a set period of time.