Question

How might the recent global financial crisis affect consumer behavior in the future? How has learning about global finance of the last decade affect your future behavior or not?

Answer 1

Global financial crisis affect consumer behaviour in various ways.

• Consumers who feels financially backward likely to incline towards products which are scarce in the market.
• Buying behaviour of consumer are very much affected. They like to purchase cheap products now and try to save more to tackle any unforeseen situation.
• Investment declines with respect to saving.
• AS>AD in case of luxury items.

Learning about global finance of last decade, there is a great effect on my buying behaviour. I am prefering to buy cheaper product now and trying to save more.