Economic Strategy Terminology
XAT 2025 · General Knowledge · Easy · General Knowledge
Which term is commonly used to describe the strategy employed by firms where they reduce the product size or quality while maintaining the same price?
- A.
Reduflation
- B.
Skimpflation
- C.
Shrinkflation
- D.
Inflation
- E.
Deflation
Answer
C
Explanation
Shrinkflation refers to reducing a product's amount or size while keeping the retail price constant.
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