Which of the following goods would usually see the largest decline in demand during a recession?Group of answer choicesCarsFoodClothingHair cuts
Question
Solution 1
During a recession, people tend to cut back on non-essential purchases due to decreased income or financial uncertainty. Here's a step-by-step analysis of each option:
- Cars: Cars are considered a big-ticket item. During a recession, people are less likely to make large purchases like this. They Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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