Question

Item weight is the:______________. 1. Measure of how much consumers demand a particular item. 2. Percentage of the typical consumer budget spent on the item. 3. Significance placed on a particular item by the wealthiest households. 4. Physical weight of a good or service.

Answer 1

2) Percentage of the typical consumer budget spent on the item.

Step-by-step explanation:

In microeconomics, item weight refers to the money spent on purchasing a specific product with respect of the total money spent in total purchases. Item weight is usually measured as a percent of a specific purchase over the total purchases made by a consumer or household.