During the recession of 2008-2009
A)sales of premium liquor products experienced decreased demand and cheaper liquor products (like mainstream beer)experienced increased demand.
B)sales of premium liquor products experienced increased demand and cheaper liquor products experienced decreased demand.
C)both premium and cheaper liquor products (like mainstream beer)experienced increased demand.
D)both premium and cheaper liquor products (like mainstream beer)experienced decreased demand.

Question

Quizplus · Accepted Answer

During a recession, people tend to cut back on discretionary spending and opt for cheaper alternatives. This applies to the purchasing of alcohol as well, where consumers would prefer cheaper liquor products over premium ones. Therefore, sales of premium liquor products would experience decreased demand while cheaper liquor products such as mainstream beer would experience increased demand.

During the Recession of 2008-2009