Which of the Following Is Not a Lesson from the Consumer

question 82

Multiple Choice

Which of the following is not a lesson from the consumer movement?

• A)public oversight is needed where corporations lack incentives to regulate their own behavior responsibly.
• B)consumers must curb the wasteful overconsumption that threatens the envirornnent.
• C)the need to achieve consumerism from one organization to another.
• D)Product safety net and consumer protection infrastructure have serious holes.

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Definitions:

Net Change

The difference in a variable's value between two points in time, indicating increase or decrease.

Utility

A measure of satisfaction or benefit that a consumer derives from the consumption of goods and services.

Behavioral Economics Research

Behavioral economics research studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

Anchoring Effect

A mental shortcut in which a person gives excessive weight to the first piece of information they receive (known as the "anchor") during decision-making processes.