Final answer:
No, the statement is false. Consumer wealth and a country's level of economic development do have an impact on consumption patterns.
Step-by-step explanation:
No, the statement is false. Consumer wealth and a country's level of economic development do have an impact on consumption patterns. A higher level of consumer wealth and economic development generally means that people have more disposable income and can afford to purchase more goods and services. This can lead to increased consumption and the demand for a wider range of products.
For example, in a developed country with a high level of consumer wealth, individuals may be able to afford luxury items such as high-end electronics or designer clothing, while in a less developed country with lower consumer wealth, people may focus more on basic necessities.
Overall, consumer wealth and a country's economic development play a significant role in shaping consumption patterns.