The Federal Reserve System
There are three main types of consumer goods: durable goods, nondurable goods, and services.
Durable goods are consumer goods that have a long-life span (e.g. 3+ years) and are used over time. Examples include bicycles and refrigerators. Nondurable goods are consumed in less than three years and have short lifespans. Examples of nondurable goods include food and drinks. Services include auto repairs and haircuts.
Consumer goods are also called finals good, or end product, because they are the ultimate output of a productive process that occurs over time.
b. Kacey is not in the market for the sailboat yet.
c. Kacey was in the market for the sailboat prior to his move to Phoenix.
d. Kacey is in the market for this sailboat but not the target market
Answer:
b.
Explanation:
Based on the scenario at hand and the different options listed it can be said that the one that best describes Kacey is that Kacey is not in the market for the sailboat yet. That is because even though Kacey loves sailing, where she currently lives (Phoenix) does not have places to sail. Also, she does not even have the money to buy a sailboat yet and therefore is not in the market to buy one at the current moment in her life.
Credit cards typically charge the highest interest rates.
The payment method that typically charges the highest interest rates is credit cards. Credit cards can have very high-interest rates, typically ranging from 15% to 25%. This means that if you carry a balance on your credit card, you could end up paying a significant amount of interest.
For example, if you have a credit card with an interest rate of 20% and you have a balance of $1,000, you would be charged $200 in interest over a year if you don't pay off the balance.
It's important to be aware of the interest rates associated with different payment methods and make sure to pay off credit card balances as soon as possible to avoid costly interest charges.
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