Household Consumption Spending Disparities as a Function of Economics Education

Autor/in	Elonge, Michael N.
Titel	Household Consumption Spending Disparities as a Function of Economics Education
Quelle	(2022), (11 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Zusatzinformation	ORCID (Elonge, Michael N.)
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Informed Consent; Economics Education; Financial Education; Financial Literacy; Financial Problems; Family (Sociological Unit); Consumer Economics; Community Education; Family Income; Money Management + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Familie; Konsumökonomie; ; Gemeinschaftserziehung; Nachbarschaftserziehung; Familieneinkommen
Abstract	A major challenge in economics and financial education is frequently the attempt to explain the disparities in household consumption spending. Household income determines the quality and quantity of goods and services that a household could consume. The amount of income available to a household is a major determinant of the disparities in household consumption spending. Although the role of income in household consumption spending is widely documented, other economic factors also contribute to the disparities such as accumulated wealth, price, taste, and preference of the household. Interestingly, these economic factors or economic knowledge are learnable and acquired from basic economic education. Consequently, this paper assumes that basic economic education knowledge predicts household consumption spending disparities. A presurvey of 120 out of 150 individuals participating in professional development training indicated that they have difficulties living financially well as compared to some of their friends with the same or less salaries and similar family responsibilities. After participating in basic economics education classes, a post-survey from the same participants was analyzed using SPSS multiple regression. The result from the data analysis and the progressions of the paper revealed that economic education significantly predicts household consumption spending disparities. [For the full proceedings, see ED626668.] (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01