VALS Creates Profiles of People Based on Their Primary Motivation

question 77

Multiple Choice

VALS creates profiles of people based on their primary motivation and resources. In the VALS framework, those consumers who seek products and services that demonstrate success to their peers or to a group they aspire to refers to

• A)Ideals.
• B)Achievement.
• C)Self-Expression.
• D)Survivors.
• E)Innovators.

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Definitions:

Supply Curve

A graphical representation used in economics to show the relationship between the price of a good or service and the quantity of it that producers are willing to supply.

Government's Revenue

The money received by a government from taxes and non-tax sources to enable it to undertake government expenditures.

Efficiency Loss

Refers to the loss of economic efficiency when the optimal allocation of resources is not achieved, often due to market failures or distortions.

Demand Curve

A chart that displays how the cost of a product affects the amount consumers want to buy, usually showing a decline from left to right.