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Student: ___________________________________________________________________________

1.

The economic-buyer theory assumes that consumers know all the facts and logically compare choices. True False

2.

Most economists assume that consumers are "economic buyers" who logically evaluate choices to get the greatest satisfaction from spending their time and money.
True False

3.

Economic needs include such things as self-respect, accomplishment, fun, freedom and relaxation.
True False

4.

The "economic buyer" view of consumers says that individuals will only buy the cheapest goods and services available--regardless of quality.
True False

5.

Economic needs are concerned only with getting the best quality at the lowest price.
True False

6.

Most marketing managers think that the economic-buyer theory explains buyer behavior very well.
True False

7.

According to the text, consumer buying decisions are influenced by economic needs, psychological variables, social influences, and the purchase situation.
True False

8.

Motivation, perception, learning, attitudes, trust, and lifestyle are psychological variables which affect consumer buying.
True False

9.

Family, social class, reference groups, and culture are the psychological variables that affect a consumer's buying decisions.
True False

10. Wants are the basic forces that motivate a person to do something.
True False
11. Wants are needs which are learned during a person's life.
True False
12. A drive is a strong stimulus that encourages action to reduce a need.
True False
13. Food, liquid, sex, and rest are examples of physiological needs.
True False
14. Examples of personal needs include self-esteem, accomplishment, fun, freedom, and relaxation.
True False
15. The "hierarchy of needs" model suggests that most products must fill more than one need at the same time. True False

16. According to the Hierarchy of Needs, consumers are motivated to first satisfy their higher-order needs, then they will focus

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