If Prices Are Slow to Adjust, Then It Is Possible

question 90

Multiple Choice

If prices are slow to adjust, then it is possible that:

• A) some markets will not be in equilibrium.
• B) there will be a demand surplus.
• C) there will be a supply shortage.
• D) all of the above are true.

Understand how individuals navigate social class barriers and ethnic backgrounds in shaping their identities.

Evaluate the effectiveness of using social class information in marketing contexts.

Discuss the psychological and sociological implications of social mobility and class inconsistency.

Understand the key components and limitations of measuring social class in marketing research.

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Definitions:

Type B Orientation

Type B Orientation describes individuals characterized by less competitive, more relaxed, and less stress-driven behavior patterns in comparison to Type A individuals.

Impatience

A disposition toward being quickly irritated or provoked by delays or obstacles.

Perfectionism

A personality trait characterized by striving for flawlessness and setting excessively high performance standards, accompanied by overly critical self-evaluations.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party to any commitment or obligation.