Factors that contribute to varying patterns of household expenditure
Can anybody help explain them points please?? :)
Yes : if you unemployed your socio economic status is different than that of of an employed person. It stands to reason that their househould expenditures are different. Beginning with their weekly income for example. If you earn/get v little money most of your income will be spent on necessities like food, heat, laundry, rent, etc. If you earn loads then you can play with the excess after you have paid your bills and necessities. You can plan too for future spends/purchases like a holiday/car/wedding etc.
Family Size: If you are alone, then your income is your worry only. if you are a family of ten, then the money has to be more finely spread over 12 months for the 10 of you, therefore your pattern of spending is different. etc
Location: if you live in the country are then you most likely will buy in the local shop where there is no competition & therefore it might be more expensive than some one living in a town where there are a variety of stores/supermarkets which compete with each other and so the prices are often lower. etc etc