| A | B |
|---|
| consumer behaviour | The study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services |
| rational | Term that describes economists view on consumer behaviour believe that before making a purchase individuals weigh up the costs and benefits with objective of maximum utility |
| utility | An economic term that describes satisfaction or well being derived from consuming a service or product |
| personality and ethical beliefs | Internal influences of consumer behaviour |
| personality | One internal influence of consumer behavoiur described as the attributes motives, values and behaviour unique to each individual |
| conspicuous consumption | A term that describes the behaviour of status seekers who buy veblem goods/status goods |
| status goods | These goods are an exception to the laws of demand |
| law of diminishing utility | This law states that with each unit of good/service consumed the level of utility diminishes (falls) in relation to previous one |
| ethics | These are the MORAL PRINCIPLES that guide a persons behaviour |
| right thing | ETHICS is also deemed as ‘? ? thing to do by society |
| fair trade | An example of ethical purchasing |
| aggregate demand | the total value of all goods and services produced in australia for a specific period |
| consumption | C in aggregate demand represents |
| investment | I in aggregate demand represents |
| government spending | G in aggregate demand represents |
| exports | X in aggregate demand represents |
| imports | M in aggregate demand represents |
| monetary | the rba deal with this policy |
| fiscal | the government deal with this policy |
| budget policy | another word for fiscal policy is |
| cash | rba utilise this rate to tackle inflation |
| 2-3% | rba goal for inflation is |
| economic growth | macroeconomic goal that deals with outut of the country per year |
| inflation and the depletion of natural resoures | sustainable means that the country wants positive output without impating on |
