Politics

Economic fluctuations are mainly due to uncertainties arising out of natural or man-made causes. Economists around the world believe that consumer demand is one of the key factors in driving the economy and any action that affects consumer demand, has a direct impact on the economy. So, it is fair to assume that consumer demand has a direct correlation with economic growth. While if we think of a consumer, the first thing that comes to our mind is, “Who is a consumer?”. The consumer is defined as an individual who consumes any product or a service. So, the consumer is basically the end-user of the product or the service. Every consumer has a unique basket based on their consumption pattern. So, a basket is defined as the sum of all the products or services that an individual consume...

Every human is different, not just in terms of appearance or fingerprints, but also in terms of what they want and how they see things. Food is no exclusion to this. The relative importance of a meal to every individual is dependent on so many factors and this makes it unique for every individual. This, combined with the importance of every product or service that an individual consumes over a period, makes a unique combination (we will denote this with C).  Every combination consists of three categories of product or service.   Primary essential products or services: These are mainly the products or services that fall at the bottom of Maslow’s need hierarchy pyramid. The unavailability can pose a serious threat to the existence of the individual. The Healthcare industry, the food &...