Reference Groups Are a Group of People

question 16

Multiple Choice

Reference groups are a group of people

• A) we go to when we want to increase our knowledge of social influence.
• B) we compare ourselves to for information about ourselves.
• C) who are experts to whom we can ask brand and product information.
• D) who are subcultural groups.
• E) who are friends or who can refer us to people who will help.

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Definitions:

Consumption

Consumption encompasses the acquisition and use of goods and services by households to satisfy their needs and wants.

Induced Consumption

Consumer spending that is influenced by changes in income, differentiating from autonomous consumption which does not vary with income.

Disposable Income

The liquidity households have for spending and saving, after income taxes have been deducted.

Consumption

The act of using goods and services by households that leads to a decrease in their availability.