A New Youth Segment Has Been Observed by Some Demographers

question 9

Multiple Choice

A new youth segment has been observed by some demographers. Aged between 10 and 14, this segment is perceived as maturing much more quickly and seeking the goods and services previously reserved for the 19- 21- year- old markets. This segment is known as:

• A) tweens.
• B) millenials.
• C) teens.
• D) cruisers.
• E) treens.

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Definitions:

Diminishing Marginal Utility

The decline in the additional satisfaction a person derives from consuming one more unit of a good or service.

Demand Curves

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

Supply Curves

A graphical representation showing the relationship between the price of a good and the quantity supplied at those prices.

Total Utility

The overall satisfaction or value a consumer derives from consuming a particular quantity of goods or services.