Which of the Following Is MOST LIKELY to Be a DETERMINING

question 230

Multiple Choice

Which of the following is MOST LIKELY to be a DETERMINING dimension with respect to purchase of a particular brand of coffee?

• A) Taste.
• B) Income.
• C) Age.
• D) Sex.
• E) None of these is likely to be a DETERMINING dimension in this situation.

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Definitions:

Economics

Social science that analyzes the choices people and governments make in allocating scarce resources.

Substitute Goods

Products or services that can serve as replacements for each other, satisfying similar customer needs or desires.

Macroeconomic Effect

Refers to the large-scale impacts on an economy, including changes in inflation, unemployment, gross domestic product, and national income.

Microeconomics

studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.