Astute Marketers Recognize That the Increasing Disparity of Income Between

question 72

Multiple Choice

Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups

• A) will create inflationary expectations.
• B) will disappear as ethnicity becomes a stronger consideration.
• C) will create opportunities to provide value to each group.
• D) will vanish once the recession ends.
• E) is attributable to more people shopping online.

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Definitions:

System of Rationing

A method for distributing scarce goods and services using criteria other than price, often implemented during shortages to ensure equitable distribution.

Free Market Price

The price of goods or services determined by supply and demand in a free market, without government intervention.

Consumer Behavior

The examination of how individuals, groups, or organizations choose, acquire, consume, and discard products, services, experiences, or concepts to fulfill their needs, and how these actions affect both the consumer and the broader community.

Traditional Market System

An economic system where trade and economic activities are based on customs, history, and time-honored beliefs.