2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Buying a car
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Buying a tv
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Buying an animal
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Getting a haircut
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Detailed explanation-1: -A haircut is a service. When you purchase a haircut, it’s not something you can hold, give to another person, or resell. “Pure” services are offerings that don’t have any tangible characteristics associated with them. Skydiving is an example of a pure service.
Detailed explanation-2: -A haircut is the lower-than-market value placed on an asset when it is being used as collateral for a loan. The size of the haircut is largely based on the risk of the underlying asset. Riskier assets receive larger haircuts.
Detailed explanation-3: -Consumption is essentially the aggregate of all the goods and services consumed in the country. Haircuts, hamburgers, gasoline etc. are all part of the GDP in the country in which they are purchased.
Detailed explanation-4: -countable noun. If you have a haircut, someone cuts your hair for you. Your hair is all right; it’s just that you need a haircut. 2.