Consumer Product Classifications Are Based Upon Three Variables: 1) Effort

question 237

Multiple Choice

Consumer product classifications are based upon three variables: 1) effort the consumer spends on the decision, 2) frequency of purchase, and 3)

• A)amount of money the customer is willing to spend.
• B)number of competing products or product substitutes.
• C)demographics of the consumer.
• D)attributes used in making the purchase decision.
• E)consumer psychographics.

---

Definitions:

Public Sector

The part of the economy that is controlled by the government including various services and industries such as healthcare, education, and transportation.

Relative To GDP

A comparison or ratio used to understand a specific financial metric or economic indicator in the context of a country's total gross domestic product.

Federal Government

The national government of a federal country, such as the United States, responsible for enacting and enforcing laws applicable across all states and territories.

Expenditures

Refers to the amount of money spent by either an individual, business, or government on goods and services.