Which Is NOT an External Influence on Consumer Behavior

question 15

Multiple Choice

Which is NOT an external influence on consumer behavior?

• A) culture
• B) family
• C) social status
• D) perception
• E) marketing activities

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Definitions:

Utility Function

A mathematical representation in economics that quantifies the satisfaction or happiness an individual gains from consuming various bundles of goods and services.

Income Effect

Shifts in income for individuals or within the economy and their consequences on the volume of goods or services demanded.

Utility Function

A mathematical representation of a consumer's preference, showing the level of satisfaction or happiness derived from consuming various bundles of goods and services.

Income Effect

The impact of income changes on an individual or economic level on the demand for various products or services.