Multiple Choice
Economic variables whose values are measured in goods are called:
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0. Basic Principles of Economics
Introduction to Economics
Struggling with Microeconomics?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Age, gender, and income are all examples of ______ segmentation variables in economics.
A
psychographic
B
demographic
C
geographic
D
behavioral
Verified step by step guidance1
Understand that segmentation variables are characteristics used to divide a market into distinct groups of consumers with similar needs or behaviors.
Recognize that 'psychographic' segmentation refers to dividing the market based on lifestyle, personality, or values.
Know that 'geographic' segmentation divides the market based on location such as region, city, or climate.
Identify that 'behavioral' segmentation is based on consumer behaviors like usage rate, brand loyalty, or benefits sought.
Recall that 'demographic' segmentation uses characteristics such as age, gender, income, education, and family size to categorize consumers.
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