Involvement Refers to

question 22

Multiple Choice

Involvement refers to

• A)the external influences that affect a consumer's purchase.
• B)the personal,social,and economic significance of the purchase to the consumer.
• C)the level of difficulty involved in making a purchase.
• D)the total number of people involved in the actual exchange process.
• E)the time,energy,and personal investment that will be required to use a product.

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Definitions:

Utility Maximizing Rule

A principle in economics stating that to maximize satisfaction or utility, consumers allocate their expenditures so that the last unit of currency spent on each product provides the same level of marginal utility.

Budget Constraint

The limitation on the purchasing ability of a consumer based on available income and prices.

Marginal Utilities

The extra pleasure or benefit derived from consuming one more unit of a product or service.

Hard Candies

Sweet confections made by boiling sugar syrup to a high temperature and then cooling it to form solid candies.