ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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For most consumers the price of products versus the ability to pay are the most important factors influencing decisions. Which of the following is not an example of an economic factor:
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budget limits
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Insurance, legal fees and other costs
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loans or credit options for purchasing product
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trends or fads
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Explanation:
Detailed explanation-1: -The most important determinant of consumer spending is disposable income. If people do not have enough money, they cannot spend it. Low-income consumers spend a greater portion of their disposable income.
Detailed explanation-2: -In general, there are four factors that influence consumer behaviour. These factors impact whether or not your target customer buys your product. They are cultural, social, personal and psychological.
Detailed explanation-3: -The correct answer is C) birth rates.
Detailed explanation-4: -Psychological Factors. Social Factors. Cultural factors. Personal Factors. Economic Factors. 09-Apr-2021
There is 1 question to complete.