If a Product Is Expensive or Complex and Hard to Understand,the

question 47

Multiple Choice

If a product is expensive or complex and hard to understand,the consumer may experience .

• A)reference groups
• B)heuristics
• C)lifestyle choice
• D)perceived risk
• E)social class awareness

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Definitions:

Balance of Trade

The net difference in value between a country's exports and imports over a certain period.

Free Trade

An economic policy that allows imports and exports between countries with few or no tariffs, quotas, or prohibitions.

Bilateral Trade Agreement

A trade pact between two countries to facilitate trading and commerce, reducing tariffs and other trade barriers to mutually benefit the economies of the two nations.

Safety Standards

Established norms and criteria designed to ensure products, services, or environments are safe for use or occupation.