Factors that affect consumer buying power and spending patterns are known as:
A) microtrends.
B) economic factors.
C) demographic factors.
D) macrotrends.
E) social factors.

Question

Quizplus · Accepted Answer

Economic factors, such as inflation, unemployment rates, and interest rates, can greatly impact a consumer's buying power and spending patterns. Demographic factors (such as age, gender, and income) and social factors (such as cultural norms and personal values) may also play a role, but they are not as directly tied to economic conditions. Microtrends and macrotrends refer to broader societal or market trends, rather than specific factors affecting consumer behavior.

Factors That Affect Consumer Buying Power and Spending Patterns Are