Complete the following using the terms listed.
-During a(n)_____,consumers frequently postpone major purchases and shift buying patterns toward basic,functional products carrying low prices.
A)Consumer Price Index (CPI)
B)Inflation
C)Gross domestic product (GDP)
D)fiscal policy
E)monetary policy
F)equilibrium price
G)budget deficit
H)Pure competition
I)supply
J)Demand
K)Productivity
L)recession
M)microeconomics
N)oligopoly
O)monopoly

Question

Quizplus · Accepted Answer

A recession is a period of economic decline characterized by a drop in GDP over two consecutive quarters. In such times, consumers tend to postpone major purchases and opt for cheaper basic products, leading to a shift in demand towards low-priced goods.

Complete the Following Using the Terms Listed