In What Way Is Consumer Demand Different from Consumer Wants

question 118

Multiple Choice

In what way is consumer demand different from consumer wants?

• A)Demand is only for necessities.
• B)Demand is only for luxuries.
• C)Demand takes into account the ability to pay.
• D)Consumer wants are only for luxuries.
• E)Consumer wants are only for necessities.

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Definitions:

Collective Unconscious

A concept in Jungian psychology referring to a part of the unconscious mind which is shared among beings of the same species and contains universal experiences.

Personal Unconscious

A Jungian concept referring to all information and experiences unique to an individual that are repressed or forgotten.

Libido

A term often used in psychology to denote the energy of the sexual drive as a component of the life instinct.

Ego

A part of the mind that mediates between the conscious and the unconscious and is responsible for reality testing and personal identity.