THE MULTICULTURAL ECONOMY 2010 ASSIGNMENT #1 - Essay Example

The Multicultural Economy Assignment 1. The buying power data presented in the Multicultural Economy on the “difference in spending by race and/or ethnicity suggest that as the U.S. consumer market becomes more diverse, advertising, products and media must be tailored to each market segment” (Selig Center, The Multicultural Economy).2. The Selig center publication defines “buying power as the total personal income or residents is available, after taxes, for spending on virtually everything that they buy, but it does not include dollars that are borrowed or that were saved in previous years.

It is not a measure of wealth, and it does not include what tourists spend during their visits” (Selig Center, The Multicultural Economy).3. According to this 2010 Selig publication, the nation’s total buying power will be $11.1 trillion in 2010 and $14.1 trillion in 2015 (Selig Center, The Multicultural Economy).4. In 2010, the projected combined buying power for African-Americans, Asians and Native American by the Selig Center was $1.6 trillion (Selig Center, The Multicultural Economy).5. According to the Selig Center projections, the nation’s Native American buying power in 2010 and 2015 are: $67.

7 billion (2010) and $90.37 billion (2015) (Selig Center, The Multicultural Economy).