The Three Main Categories of Influences That Affect the Consumer

question 108

Multiple Choice

The three main categories of influences that affect the consumer decision-making process are ________.

• A) physical, emotional, and behavioral
• B) internal, situational, and social
• C) environmental, familial, and sociocultural
• D) sociocultural, behavioral, and external
• E) environmental, personal, and sociocultural

---

Definitions:

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

Willingness To Pay

The maximum price at which a consumer is prepared to buy a good or service, reflecting the perceived value of the product to the consumer.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be consumed by everyone and one person's consumption does not diminish another's.

Marginal Cost

The cost incurred by producing one additional unit of a product, reflecting changes in variable costs.