Asked by Name
30.
Which of the following terms is defined as the average price of basic necessities for living?
A.
Budget
B.
Inflation
C.
Cost of living
D.
Impulse purchase
All Answers 1
Answered by
GPT-5 mini
AI
C. Cost of living
Explanation: "Cost of living" refers to the average price level of basic necessities (housing, food, healthcare, transportation, etc.) needed to maintain a certain standard of living. (Budget is a plan for spending, inflation is a rise in general price levels, and an impulse purchase is an unplanned buy.)
Explanation: "Cost of living" refers to the average price level of basic necessities (housing, food, healthcare, transportation, etc.) needed to maintain a certain standard of living. (Budget is a plan for spending, inflation is a rise in general price levels, and an impulse purchase is an unplanned buy.)
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