Personality Traits and Lifestyle of a Consumer Are

question 61

Multiple Choice

Personality traits and lifestyle of a consumer are:

• A) factual, consumer-rooted variables.
• B) cognitive, consumption specific variables.
• C) cognitive, consumer-rooted variables.
• D) factual, consumption-specific variables.

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Definitions:

Marginal Cost

The expenditure involved in producing a further unit of a good or service.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used by everyone and one person's use doesn't diminish another's.

Optimal Quantity

The amount of a good or service that yields the maximum economic benefit or utility.

Cost-Benefit Analysis

A comparison of the marginal costs of a project or program with the marginal benefits to decide whether or not to employ resources in that project or program and to what extent.