Global Consumers Refer to

question 268

Multiple Choice

Global consumers refer to

• A)all potential consumers for any and all products or services regardless of cultural,ethnic,or national origins.
• B)customers within a nation who consider the entire world a single marketplace.
• C)consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services.
• D)consumer groups living in many countries or regions of the world that have similar needs but seek customized features and benefits from products or services that reflect their individual cultures.
• E)multinational organizations whose products incorporate raw materials,assembly,and distribution contributions from multiple nations before they are marketed.

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Definitions:

Real Wages

Wages that have been adjusted for inflation, representing the purchasing power of income earned from labor.

Money Wages

The nominal wages received by employees, measured in units of currency rather than purchasing power.

Consumer Price Index

The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Real Wages

These are wages adjusted for inflation, representing the purchasing power of the income received by workers for their labor.