Question

Of the categories of spending listed below, which is the smallest component of the market basket?

Answer 1

Of the categories of spending listed below:

A) Food at home

B) Medical care

C) Apparel

D) Education

the smallest component of the market basket is

D) Education

Step-by-step explanation:

• The market basket refer to the items and products that can be bought and sold.
• Education is the smallest component of the market basket because usually books, notebooks, pen etc come under this component.
• Apparel, Medical care and food at home are bigger components of the market basket due to the variety of products in each category.