It Is True That

question 26

Multiple Choice

It is true that:

• A) generation X seeks value while generation Y seeks immediate gratification.
• B) generation X uses products that help define who they are while generation Y cannot do that.
• C) generation Y has confidence and trust in their chosen brands whereas generation X does not relate to the desire to be loyal to brands.
• D) None of the given answers are correct.

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Definitions:

Capitalist

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Socialist Economies

Economic systems based on collective or governmental ownership of the means of production and distribution of goods, where allocation is based on equality or need.

Economic System

A framework that defines how economic activities, including production, distribution, and consumption of goods and services, are organized and governed within a society.

Basic Economic Questions

Fundamental questions every economy must answer regarding what to produce, how to produce it, and for whom it is produced.