Consumer Behavior Refers to

question 266

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 before and after them.
• 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:

Cyclical

Referring to fluctuations in economic activity that occur in cycles, often related to changes in business conditions.

Defense Contractor

A business organization that provides products or services to a military or national security department of a government.

Recession

A temporary economic slump, associated with a drop in business and manufacturing activities, commonly distinguished by a successive decline in GDP across two quarters.

Cyclical Unemployment

Cyclical unemployment is the component of overall unemployment that results from economic recessions or expansions, influenced by the business cycle.