Consumers Are More Likely to Perceive the Value of a Product

question 27

Multiple Choice

Consumers are more likely to perceive the value of a product to be less than its price tag says if the product's

• A) price is set too high in their minds.
• B) manufacturer gains very little profit from the product.
• C) demand is inelastic.
• D) demand and supply attain the state of price equilibrium.

---

Definitions:

Self-Segregation

The process by which individuals or groups separate themselves from others within a society based on characteristics such as ethnicity, religion, or socioeconomic status, often voluntarily.

Chasing Games

A category of playful activities in which participants run after each other in an attempt to "catch" or tag one another.

Social Constructionism

A theory that examines the ways in which individuals and groups create their perceived reality through social interaction and cultural practices.

Natural or Innate Features

Characteristics or qualities that individuals are born with, not acquired through learning or environmental influence.