The consumption of certain products depend more on their social and psychological meaning than on their functional utility.

Question

Quizplus · Accepted Answer

This statement is true. Some products, such as luxury goods or certain brands, may be purchased primarily for their symbolic value or the social status they convey, rather than their practical usefulness. For example, a person may buy a designer handbag not because it is more practical than a cheaper alternative, but because it is a symbol of wealth and status. Similarly, people may prefer certain brands of clothing or electronics because they feel that these products reflect their identity or social status.

The Consumption of Certain Products Depend More on Their Social