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?
agree that it is C
Thank you very much!!
To determine the correct answer, let's analyze the statements given and break down the impact of a person's perception of a good as a necessity or a luxury on their purchase behavior:
A. According to this statement, people with a lot of money will buy goods even if they think they are a luxury. This suggests that their perception of a good as a luxury does not significantly affect their purchase behavior. It implies that their purchasing decisions may not be influenced by the perception of the good as a luxury.
B. This statement posits that a good perceived as expensive will no longer be considered a necessity. This means that if people perceive a good as expensive, they may reassess its importance and deem it a luxury rather than a necessity. Consequently, their purchase behavior might be influenced by this perception, and they may be less inclined to buy it.
C. The statement suggests that a good perceived as a necessity will be purchased even if the price rises. In this case, the perception of a good as a necessity appears to have a strong influence on purchase behavior. It implies that regardless of the price increase, individuals will still consider the good essential and be more inclined to purchase it.
Based on these explanations, your selection of option C seems correct. A good that is perceived as a necessity will likely be purchased even if the price rises.