For the Past Several Years the Borrowing Interest Rates Has

question 6

Multiple Choice

For the past several years the borrowing interest rates has hovered around 10% in South Africa.This is an example of a(n) ______________ trend.

• A)economic
• B)sociocultural
• C)political/legal
• D)demographic

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Definitions:

Price-sensitive

Describes consumers or markets that are highly responsive to changes in price, where price changes can significantly impact demand.

Customer Service

Activities and support provided by a company to its customers before, during, and after a purchase to enhance satisfaction and loyalty.

Consumer Income

The total amount of income available to an individual or household for spending, saving, or investment after taxes.

Availability

The degree to which a product or service can be purchased or accessed by consumers at a given time.