Income Is a Common Demographic Variable for Segmenting the Consumer

question 150

Multiple Choice

Income is a common demographic variable for segmenting the consumer market,and expenditure patterns vary with income.Engel's laws are three general statements based on Ernst Engel's statistical study of the impact of changes in household income on consumer spending behavior.These statements were valid over 100 years ago and with a few exceptions,still appear to be valid today.Choose the statement below that best summarizes Engel's laws.​

• A)​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing increases; the percentage spent on other items like recreation remains constant.
• B)​As income increases: a larger percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases.
• C)As income increases: the percentage spent on food remains constant; the percentage spent on housing and clothing decreases; the percentage spent on other items like recreation increases.​
• D)​As income increases: a larger percentage is spent on food; the percentage spent on housing and clothing increases; the percentage spent on other items like recreation remains constant.
• E)​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases.

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Definitions:

Novel Stimulus

A new or unfamiliar stimulus that requires an individual to process and potentially adapt to it, often used in psychological studies to measure response or attentiveness.

Consequent

In logic, the latter part of a conditional statement, the outcome or result that follows the condition specified in its antecedent.

Antecedent

In logic and grammar, the preceding statement or element that provides the context for a subsequent statement or element.

Proposition

A statement or assertion that expresses a judgment or opinion, or in logic, the content of an assertion that can be true or false.