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Questions and Answers
What are people's basic needs according to the text?
What are people's basic needs according to the text?
- Food, clothing, and shelter (correct)
- Luxuries and non-essential items
- Material goods and possessions
- Financial constraints and availability of items
What influences an individual's purchase decisions?
What influences an individual's purchase decisions?
- Financial constraints and availability of items and services
- Sense of self, identity, and influence of family and friends (correct)
- Economic, political, cultural, and human value of items
- Utility and significance of the object
What do people consider in the process of acquiring material goods?
What do people consider in the process of acquiring material goods?
- Influence of family and friends
- Utility and significance (correct)
- Financial constraints and availability
- Luxuries and necessities
What are synonymous with luxuries according to the text?
What are synonymous with luxuries according to the text?
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What are the factors influencing purchase decisions according to the text?
What are the factors influencing purchase decisions according to the text?
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Study Notes
Basic Needs
- People's basic needs include physiological, safety, love, esteem, and self-actualization needs
Purchase Decisions
- Purchase decisions are influenced by cultural, social, personal, and psychological factors
- These factors affect an individual's perception of their needs and wants, and ultimately, their purchase decisions
Acquiring Material Goods
- When acquiring material goods, people consider factors such as:
- Quality
- Price
- Convenience
- Availability
- Personal values and beliefs
Luxuries
- Things that are not essential for survival or well-being are synonymous with luxuries
- Examples of luxuries include jewelry, designer clothing, and luxury cars
Influencing Factors
- Cultural factors, such as social norms and values, influence purchase decisions
- Social factors, such as family, friends, and social status, influence purchase decisions
- Personal factors, such as age, lifestyle, and occupation, influence purchase decisions
- Psychological factors, such as motivation, perception, and attitudes, influence purchase decisions
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