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Questions and Answers
True or false:Shrinkflation occurs when companies increase the size of their products while maintaining the same price or charging more.
False
True or false: Rising business costs are the main reason why companies resort to shrinkflation.
True
True or false: Consumers are more concerned about the net weight of a product than its price.
False
True or false: Shrinkflation is a way for companies to pass on a price increase to consumers.
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True or false: Companies are only downsizing large products like cars and appliances, not smaller items like cereal boxes and toilet paper squares.
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True or false: Consumers are becoming more aware of shrinkflation, with a Reddit thread dedicated to the topic.
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True or false: General Mills recently upsized their family-sized cereal boxes from 19.3 ounces to 18.1 ounces.
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True or false: General Mills justified the downsizing of their cereal boxes by claiming it would result in more trucks on the road and more gallons of fuel used.
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True or false: Companies may respond to consumer demand and upsize their products instead of downsizing them.
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True or false: Shrinkflation is a term used to describe the subtler, smaller cousin of deflation.
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Study Notes
- Shrinkflation is when companies reduce the size of their products while maintaining the same price or charging more
- Rising business costs are the main reason companies resort to shrinkflation
- Consumers are price-conscious but not net weight-conscious
- Shrinkflation is a sneaky way to pass on a price increase
- Companies are downsizing products from cereal boxes to toilet paper squares
- Consumers are becoming more aware of shrinkflation, with a Reddit thread dedicated to the topic
- General Mills downsized their family-sized cereal boxes from 19.3 ounces to 18.1 ounces
- General Mills justified the downsizing by claiming it would lead to fewer trucks on the road and fewer gallons of fuel used
- Companies may respond to consumer demand and upsize their products
- Shrinkflation is inflation's subtler, smaller cousin.
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