__________ Influences on Consumer Behavior Result from Three Sources: Consumer

question 61

Multiple Choice

__________ influences on consumer behavior result from three sources: consumer socialization,passage through the life cycle,and decision making within the household.

• A) Functional
• B) Situational
• C) Social
• D) Family
• E) Personal

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Definitions:

Variable Costs

Costs that change in proportion to the good or service that a business produces, such as materials and labor.

Output

The sum of all products or services generated by a business or economic system.

Market Price

The current value at which an asset or service can be bought or sold, determined by supply and demand forces in the open market.

Break Even

The point at which total costs and total revenues are equal, resulting in no net loss or gain.