The Tendency for Individuals to Assign Higher Values to Goods

question 137

Multiple Choice

The tendency for individuals to assign higher values to goods when they own the goods than when they do not possess the goods is known as the:

• A) substitution effect.
• B) endowment effect.
• C) income effect.
• D) anchoring effect.

---

Definitions:

Birds Eye

A brand known for its frozen food products, particularly vegetables, fish, and poultry.

Coupons

Promotional vouchers that offer consumers a discount or rebate on the purchase price of goods or services.

Stimulate Demand

involves creating an increased desire or need for a product or service through marketing strategies or by introducing new features.

Selective Demand

The demand specifically for a certain brand or product as opposed to the general demand for the category of goods.