Brand Name Drugs Are Chemically Identical to Their Generic Counterparts

question 51

Multiple Choice

Brand name drugs are chemically identical to their generic counterparts. Yet, consumers often prefer the brand name product to the generic product. Making consumers think that a brand name drug differs from its generic counterpart is an example of

• A) oligopolistic behaviour.
• B) price taking behaviour.
• C) product differentiation.
• D) perfect competition.

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Definitions:

Gain Social Approval

The process or action of obtaining acceptance, affirmation, or endorsement from others in a social context.

Chameleon Effect

The unconscious mimicry of the postures, mannerisms, facial expressions, and other behaviors of one's interaction partners, often facilitating social interaction.

Social Facilitation

Stronger responses on simple or well-learned tasks in the presence of others.

Self-Esteem

Self-Esteem is a person's overall sense of their value or worth, or how much they appreciate, respect, and feel confident about themselves.