CONSUMER BEHAVIOR Definition

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CONSUMER BEHAVIOR is the study of individuals, groups or organizations and the processes that are used by that consumer to identify, purchase, apply and dispose of a product or service, and the study of those experiences or ideas to satisfy needs and the impacts that these processes have on the the choices that consumers or society ultimately make.

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BLACK MARKETS are created when buyers and sellers meet to negotiate the exchange of a prohibited or illegal good. More generally, it is any unofficial market in which prices are inordinately high.

SUPRANATIONAL is transcending established national boundaries or spheres of interest (Example: A supranational company).

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