Scientists Studying Human Behavior Have Found That People Tend to

question 101

Multiple Choice

Scientists studying human behavior have found that people tend to

• A)always make rational decisions.
• B)make systematic errors in their decisions.
• C)make only random errors in their decisions.
• D)always make decisions that are not rational.

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Definitions:

Inelastic Demand

A situation in which the demand for a product or service is relatively unaffected by changes in price.

Car Repair Shop

An establishment where automobiles are repaired by auto mechanics, offering services from routine maintenance to more extensive repairs.

Intangibility

A characteristic of services that makes them unable to be seen, touched, or quantified before they are purchased and used.

Service Inconsistency

The variation in the quality or level of service provided to customers over different instances of service delivery.