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- For me it is about why, where and what do the consumer buy. What are the stages of challenges of a buyer before purchasing a product. Understanding the behavior of the consumers can bring success to a business in which, upon understanding the needs and wants of the consumers, they are able to produce the product therefore they can gain profit. For example, if it Christmas season they produce products such as Christmas lights and decorations, since they knew that every Christmas season people are usually buying this goods.
- Do you know how cashflow works?
- I have brief idea about it, where it also includes about the injection—the introduction of income in the flow, and withdrawal— leak out in the flow, in every government and even household.
- So, what are your thoughts about the consumer behavior?
- GDP or the Gross Domestic Product and the GNP or the Gross National Product is somewhat close to each other because these two mainly about that is being produce. GNP is the value of all final goods and services produced by the population of a country in a physical year. The total of all goods that is being produced inside and outside the country. On the other hand, GDP is the goods and services that is produced only within the country.
- Let me also share to you about the GNP and the GDP
- Additionally, the national income accounting system allow us to see if the economy of the country there is an increasing process or decreasing. Also, in economics it is also important to know the Per Capita income, because in here it can determine whether the country’s economy is increasing or not. It is to determine that status of a country.
- Don't forget that economics also allow us to understand the of saving and spending.
- Good night bestie, it's a great time discussing those things
- Finally, we're home! indeed, Economics is fun. it helps us to understand how our econmy works. It enables us to make wise desicions.
- Good night my friend!
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