Which of the Following Is a Social Factor That Can

question 36

Multiple Choice

Which of the following is a social factor that can influence consumer buying decisions?

• A)A social class
• B)Gender
• C)A reference group
• D)Ethnicity

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Definitions:

Human Capital

The collective skills, knowledge, and expertise that individuals possess, which can be utilized to create economic value.

Economic Output

The total value of all goods and services produced by an economy over a specific time period.

Labor

The human effort, including both physical and mental capabilities, utilized in the production of goods and services.

International Companies

Businesses that operate across multiple countries outside of their original country of establishment.