Question
This is a class discussion board, please reply to this classmate. The power of consumer psychology on the economy affects buying behavior. In response to
This is a class discussion board, please reply to this classmate.
The power of consumer psychology on the economy affects buying behavior. In response to inflation, possible recession, and overall money management this has a big impact on the country's economic health. Spending money drives economic growth and avoiding spending slows the economy regardless of inflation or potential recession. Economists focus on objective measures whereas the psychology aspect focuses on feeling which matters. How I am feeling financially is confident because I am financially savvy. I am frugal when it comes to saving and what I decide to spend my hard earned money on. I am optimistic about what the future hold for my company. I work in communications for a mortgage company the fluctuation within the market and high inflation has some clients afraid to move forward with the mortgage process but I am able to persuade them that it is the best time to invest within this economy. Home buyers who are patient and optimistic, the market conditions could work in their favor in the long run. With the holidays coming up and my own interest in buying a home my perception of the economy my purchasing behavior has not changed. I believe that I am recession proof. With the right attitude and mindset towards money I believe I could weather this storm
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