One of the Strongest Influences on Our Consumer Purchase Decisions

question 14

Essay

One of the strongest influences on our consumer purchase decisions are gender roles.How are gender roles likely to influence the children's toy industry?

---

Definitions:

Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good.

Income Elasticity

A measure of how much the demand for a product changes with a change in consumers' income.

Quantity Supplied

the amount of a good or service that producers are willing and able to sell at a given price.

Elastic

Describes a situation where a change in one factor (such as price) leads to a relatively larger change in another factor (such as quantity demanded or supplied).