According to the Life-Cycle Theory of Consumption, People Tend to Consume

question 138

Multiple Choice

According to the life-cycle theory of consumption, people tend to consume more than they earn during their ________ years.

• A) main working
• B) early
• C) later
• D) both B and C

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Definitions:

Psychological Needs

Fundamental emotional or cognitive requirements essential for mental health and well-being, such as autonomy, competence, and relatedness.

Organismic Valuing Process

A concept in humanistic psychology where individuals inherently make evaluations or value judgments based on their experiences, acting in ways congruent with their true self.

Actualization

The realization or fulfillment of one's talents and potentialities, often considered as a drive or need present in everyone.

Underprivileged Children

Children who lack the economic, social, and educational advantages of their peers, often leading to disparities in health, achievement, and opportunities.