Automobiles Entertainment Home cooked meals Vegetables People are likely to defer the purchase of automotive items during economic crises and concentrate their purchases on life's necessities. Home cooked meals replace eating out or ready-to-eat items. Which of the following is a valid observation of socio-cultural changes? Straightforward statistical data is available on societal and cultural shifts in attitudes. Socio-cultural changes tend to be gradual in nature. It is easy to identify societal and cultural shifts in attitudes. Socio-cultural changes can be monitored clearly.
Socio-cultural changes tend to be gradual, take place over a prolonged period of time, and are sometimes very subtle. Which of the following is a key difference between disposable income and discretionary income? Discretionary income refers to the after-tax income, whereas disposable income refers to the before- tax income. Unlike disposable income, discretionary income is used to pay for food and clothing. Discretionary income will always be more than disposable income. Unlike disposable income, discretionary income is used only for purchases that are not deemed a necessity. Discretionary income is the after-tax income a consumer has left after paying for necessities such as food, shelter, and clothing. This income is used for discretionary purchases that are not deemed a necessity. The postal system is run by the government with competition forbidden by law in a country. This is an example of a(n) _____. monopolistic competition oligopoly monopoly duopoly A monopoly exists when there is only one company selling in the market. This is an example of monopoly. Which of the following products target baby boomers exclusively? Bathroom accessories Cosmetics Social networks Retirement homes Baby boomers are people born between 1946 and 1965. Retirement homes target baby boomers exclusively.
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