Zorana Goes into a Large Electronics Store Where They Sell

question 63

Multiple Choice

Zorana goes into a large electronics store where they sell everything.Maybe you've been to this store.It really is the Best place to Buy electronics.She is interested in a laptop computer that she saw advertised for $400,but the salesman immediately says "We're sold out of that one,but let me show you this other great model." Amazingly the new model is $750.Zorana,who is a psychology major,immediately recognizes this as an example of the __________ technique.

• A) bait-and-switch
• B) foot-in-the-door
• C) door-in-the-face
• D) lowball

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Financial Viability

The ability of an entity or project to manage its expenses and generate sufficient revenue to continue operating effectively.

Residential Neighborhoods

Areas primarily containing housing where people live, often differentiated by types of housing, socioeconomic status, and urban planning.

Externalities

Negative or positive impacts on third parties stemming from business operations, which are not accounted for in the pricing of products or services.