Question
How does a persons perception of a good as a neccessity or a luxury effect his or her purchase of it?
A. people who have alot of money will buy goods even if they think they are a luxury.
B. a good that is perceived as expencive will no longer be considered a neccessity.
C. a good that is perceived as a neccisity will be purchased even if the price rises.
I say C am I right?
A. people who have alot of money will buy goods even if they think they are a luxury.
B. a good that is perceived as expencive will no longer be considered a neccessity.
C. a good that is perceived as a neccisity will be purchased even if the price rises.
I say C am I right?
Answers
agree that it is C
Thank you very much!!
Related Questions
Some texts define a "luxury good" as a good for which the income elasticity of demand is greater tha...
If you had been a voter at the time of Nixon's impeachment and resignation, how would the Watergat...
How does a person’s perception of a good as a necessity or a luxury affect his or her purchase of it...
After a long period of [trade], there appear among the crowd of barbarians both good persons and bad...