Purchases That Have Substantial Social or Economic Consequences

question 65

Multiple Choice

Purchases that have substantial social or economic consequences:

• A) usually require relatively less investment of time and effort.
• B) represent routine purchases that pose little risk.
• C) require independent decision making.
• D) represent high-involvement purchase decisions.

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Definitions:

Habits

Habits are regular practices or routines that are performed automatically, often without conscious thought.

Trade Credit

A type of credit extended by a seller to a buyer allowing the buyer to purchase goods or services and pay for them at a later date.

Seasonal Dating

An arrangement that allows buyers to make payments at a later date, often used to accommodate seasonal fluctuations in sales or production.

Consignment Goods

Products held by a seller, but still owned by the supplier until they are sold to a consumer.