Answer the following questions

1. Consumer Confidence: - Explain the concept of consumer confidence and its impact on spending. Discuss how economic conditions and external factors can influence consumer confidence.
2. Psychological Factors: - Analyze the psychological factors that influence consumer spending, such as emotions, peer pressure, and marketing strategies.
3. Economic Cycles: - Discuss how consumer spending patterns change during economic cycles (recession and expansion) and their consequences on businesses and employment.
4. Impact of Technology: - Explore how advancements in technology, including e-commerce and digital payment methods, have influenced consumer spending behavior.