Which of the Following Factors of Consumer Behavior Include Race

question 74

Multiple Choice

Which of the following factors of consumer behavior include race, ethnicity, occupation, and income?

• A) Personal factors
• B) Social factors
• C) Psychological or individual factors
• D) Situational factors
• E) Price factors

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Definitions:

Resources Efficiently

The effective and optimal usage of resources to maximize productivity and minimize waste.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to undertake an action.

Production Possibility Frontier

This graph illustrates the maximum outputs for two different goods achievable with certain inputs and existing production technology.

Clean Air

The condition of the air when it is free from pollutants, contaminants, and other harmful substances, often a focus of environmental protection efforts.