Homework Help: Economics

Posted by Anonymous on Thursday, April 19, 2012 at 6:04pm.

How does a persons perception of a good as a neccessity or a luxury effect his or her purchase of it?

A. people who have alot of money will buy goods even if they think they are a luxury.
B. a good that is perceived as expencive will no longer be considered a neccessity.
C. a good that is perceived as a neccisity will be purchased even if the price rises.

I say C am I right?

Economics - Damon, Thursday, April 19, 2012 at 6:07pm
agree that it is C
Economics - Anonymous, Thursday, April 19, 2012 at 6:09pm
Thank you very much!!

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