Every Afternoon at About 3 O'clock, Neil Buys a Cold

question 74

Multiple Choice

Every afternoon at about 3 o'clock, Neil buys a cold drink. He either buys a Coca-Cola, a Mountain Dew, or a Minute Maid lemonade. He will not buy any other brand or type of soft drink because the three drinks make up his:

• A) subliminal choices
• B) evoked set
• C) decision criteria
• D) brand attribution list

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Definitions:

Neoclassical Economics

A branch of economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, emphasizing rational individuals and efficient market outcomes.

Behavioral Economics

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Neoclassical Economics

A mainstream approach to economics that focuses on the determination of goods, outputs, and income distributions in markets through supply and demand.

Behavioral Economics

A field of economics that analyzes the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions.