People Notice That When They Shop Online,they See a Box

question 85

Multiple Choice

People notice that when they shop online,they see a box checked that tells them to uncheck the box if they don't want to receive news of new products.This checked box is an example of a

• A) priming effect.
• B) framing effect.
• C) intertemporal decision bias.
• D) status quo bias.
• E) preference reversal.

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Definitions:

Consumer Surplus

The gap between what consumers are prepared to spend on a good or service and what they end up paying.

Price

The cost at which goods or services are offered to consumers.

Surplus Amount

The excess of supply over demand in a market, resulting in downward pressure on prices.

Consumer Surplus

The discrepancy between what consumers are ready and capable of paying for a product or service and the actual amount they end up paying.