Hundreds of Millions of Consumers Around the World Have the Purchasing

question 72

Multiple Choice

Hundreds of millions of consumers around the world have the purchasing power to afford higher quality products.This consumer group,known as the ________,tend to buy affordable cars rather than luxury cars.

• A) plutonomy
• B) taste culture
• C) leisure class
• D) mass class

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Definitions:

Sharing Economy

The sharing economy is a socioeconomic system that allows individuals to borrow or rent assets owned by someone else, emphasizing access over ownership.

80/20 Rule

A principle, also known as the Pareto Principle, stating that roughly 80% of effects come from 20% of causes, applicable in varied contexts like business, science, and economics.

Business Processes

Sets of activities and tasks that organizations carry out to accomplish specific organizational goals.

SaaS

Software as a Service, a cloud computing offering that provides users with access to a vendor’s cloud-based software.