Which of the Following Has Been the Most Common Consumer

question 97

Multiple Choice

Which of the following has been the most common consumer response to the economic downturn that began in 2008?

• A)spending less but choosing products less carefully
• B)saving more but spending more on credit cards
• C)spending more on luxury items
• D)discontinuing any spending on luxury items
• E)spending less and choosing products more carefully

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Definitions:

Stratification

The hierarchical arrangement of individuals in a society based on factors like wealth, income, race, education, and power.

High Birthrates

A demographic condition where the number of births in a population is significantly higher than the global average.

Economic Development

The method through which a country enhances its residents' economic, political, and social conditions.

Absolute Poverty

A condition characterized by the severe lack of essential resources such as food, water, sanitation, education, and health care.