Paul Spoon has noticed that interest rates have risen in recent months.He is worried that this may make it more difficult for him to finance the purchase of a car.This would be an example of a ________ factor that influences his purchasing decision.

Question

Quizplus · Accepted Answer

Interest rates are a part of the economic factors that influence purchasing decisions. Economic factors include market conditions, inflation, and interest rates, among others. These factors affect consumer behavior by impacting their buying power, budgeting decisions, and borrowing costs. Therefore, Paul's concern over rising interest rates is an economic factor that is influencing his purchasing decision.

Paul Spoon Has Noticed That Interest Rates Have Risen in Recent