Which of the Following Statements Is TRUE

question 345

Multiple Choice

Which of the following statements is TRUE?

• A) Divorced families usually have more discretionary income than traditional families.
• B) Singles and young couples are less willing to try new products than are older couples.
• C) Empty nesters are frequently big spenders.
• D) Buying responsibility and influence vary little from one family to another.
• E) None of these statements is True.

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Definitions:

Marginal Utility

The extra pleasure or benefit derived from consuming an additional unit of a product or service.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

Marginal Utility

The additional satisfaction or advantage a consumer experiences from consuming one more unit of a product or service.

Maximizing Utility

Maximizing Utility refers to the economic goal of consumers to gain the highest level of satisfaction from their consumption choices, within their budget constraints.