Consumer Behavior Refers to

question 62

Multiple Choice

Consumer behavior refers to

• A)the aspects of a consumer's decision-making processes that cannot be measured.
• B)the actions a person takes in purchasing and using products and services,including the mental and social processes that come before and after these actions.
• C)the five stages a buyer passes through in making choices about which product and service to investigate,purchase,and consume.
• D)the mental and social processes related to purchasing that are innate in a person from birth.
• E)those purchasing behaviors that result from (1)repeated experience and (2)reasoning.

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Definitions:

Tax Incidence

The study of the effect of a particular tax on the distribution of economic welfare, focusing on who ultimately pays the tax (the burden of the tax).

Consumers

Individuals or groups that purchase goods and services for personal use and are the end users in the distribution chain.

Tax Incidence

Examining how a specific tax impacts the allocation of economic well-being among different stakeholders.

Producers

Individuals or businesses involved in the creation of goods or services intended for distribution and sale.