Which of the Following Statements Is True of the Microcultures

question 18

Multiple Choice

Which of the following statements is true of the microcultures around the world?

• A) Street microcultures exist only in the United States due to large-scale immigration.
• B) Marketers need to ignore the effects of microculture when making marketing strategies.
• C) Firms need to account for the pervasiveness of microcultures when marketing products.
• D) Microcultures do not have any potential influence on consumer behavior.

---

Definitions:

Laspeyres Price Index

An index that measures the change in the cost of purchasing a fixed basket of goods and services, using the prices of a base period.

Per Capita Income

A measure of the average income earned per person in a specified area over a defined period of time, often used as an indicator of economic health.

WARP

Weak Axiom of Revealed Preference, a theory in economics that assumes if a consumer prefers product A over B when both are available, then they will not choose B when A is available.

Bundle

An assortment of items or services combined and offered for sale as a complete set.