On average over all goods,it has been found that as people become wealthier,expenditures for higher quality grow more rapidly than expenditures for increased quantity.

Question

Quizplus · Accepted Answer

This statement is true according to studies on consumer behavior and spending patterns. As people's incomes increase, they tend to prioritize purchasing higher quality products over simply buying more of a lower quality product. This is known as the quality vs. quantity trade-off.

On Average Over All Goods,it Has Been Found That as People