In Its Advertising,an Automobile Company Emphasizes the Fuel Economy,safety Rating,and

question 34

Multiple Choice

In its advertising,an automobile company emphasizes the fuel economy,safety rating,and resale value of its car.The company is trying to appeal to which of the following consumer needs?

• A) Sentiment needs
• B) Biogenic needs
• C) Hedonic needs
• D) Utilitarian needs

---

Definitions:

Conditions

Refers to the various circumstances or parameters that affect economic models, decision-making processes, or market states.

Utility Function

A mathematical model that represents a consumer's preference ranking over bundles of goods or outcomes, quantifying the level of satisfaction or happiness derived.

Budget Constraint

Represents the combinations of goods and services that a consumer can afford to purchase given current prices and their income level.

Relative Prices

Relative prices represent the price of one good or service in comparison to another, expressing the trade-off between different goods in an economy.