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Define the following terms: a. Buying b. Inflation c. Substitute products d. Credit cards.

Define the following terms:

a. Buying
b. Inflation
c. Substitute products
d. Credit cards.

Answers

Faith
? Buying is exchanging goods and services for money
? Inflation is the increase in prices but the income remains the same therefore reducing the purchasing power of a person.
? Substitute products are those items which can be used in place of another item e.g. margarine which is cheaper can be used instead of butter which is expensive.
? These are processed cards which are presented when one is purchasing goods and services and the payment is paid from the consumer’s bank account.
Titany answered the question on October 14, 2021 at 09:03

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