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What is the Consumer Price Index (CPI)? | CPI Explained | Think Econ
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YouTubeThink Econ
What is the Consumer Price Index (CPI)? | CPI Explained | Think Econ
What is the CPI? Maybe you've heard about it on the news, or even in your economics class. Essentially, it's a basket of goods that the average household purchases. The cost of this basket is associated with an index value which, when compared to other index values, can tell you how much inflation has occurred over a given time period! If you ...
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financedigg℠ on Instagram: "The statement, "Value isn't in the product, it's in the psychology," argues that a product's worth is primarily determined by its perceived value and the emotional connection it creates in a customer's mind, rather than its physical attributes. Key psychological factors influencing value include: Perception: Value is subjective; what one person sees as essential, another might see as trivial. Emotion over Logic: Purchases are often driven by feelings and identity, not
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