When Consumers Are Making Buying Decisions, Some Observers Have Said

question 56

Multiple Choice

When consumers are making buying decisions, some observers have said that their behaviour resembles acting in a play, complete with lines, props, even costumes. They may alter their consumption decisions depending upon the part they are playing at the time. This view of consumer behaviour is often called:

• A) consumer activism
• B) consumption play theory
• C) situational analysis
• D) dramatism
• E) role theory

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Definitions:

Aggregate Demand Curve

A graph that represents the total demand for all goods and services in an economy at various price levels.

Aggregate Expenditure

Aggregate expenditure is the total amount spent on goods and services in an economy at a given overall price level and in a given time period.

Current Production

The total value of all goods and services produced within a given period by an economy.

Real Gross Domestic Product

Real Gross Domestic Product is another term for Real GDP, indicating the value of all goods and services produced by an economy adjusted for inflation or deflation.