Which of the Following Statements Is True About the Consumer

question 35

Multiple Choice

Which of the following statements is true about the consumer decision process?

• A) Behavioral economics suggests that consumer behavior follows a completely rational process.
• B) Cognitive dissonance refers to the delivery of marketing messages to people who are not aware that they are being marketed to.
• C) Companies, government agencies, and other organizations that buy goods and services are a part of the consumer market.
• D) Many consumers tend to believe that "you are what you buy," so they make or avoid choices that support their desired self-images.
• E) Aspirational reference groups are those to which consumers actually belong, such as families, networks of friends, clubs, and work groups.

---

Definitions:

Positive External Benefits

Benefits experienced by third parties or the society at large due to an economic activity, which are not reflected in the market price of goods or services.

Government Intervention

The involvement of the government in the market to correct market failures and promote economic stability and growth.

Flu Vaccines

Vaccines that protect against influenza, a contagious respiratory illness caused by influenza viruses.

Marginal Social Benefits

The extra advantage obtained by society from the consumption of an additional unit of any product or service.