How Consumers Make Choices Is Influenced by the Personal, Financial

question 148

Multiple Choice

How consumers make choices is influenced by the personal, financial, and social significance of the decision being made, in other words, their level of

• A)self-actualization.
• B)cognitive dissonance.
• C)motivation.
• D)perception.
• E)involvement.

---

Definitions:

Social Costs

The total cost to society, including both private costs incurred by producers and also any costs inflicted on third parties, such as pollution.

Pollution Reduction

The process of decreasing the quantity of pollutants released into the environment, typically involving strategies and technologies to clean air, water, and soil.

Pollution Rights

Legal permits allowing companies or organizations to emit a specific amount of pollutants into the environment.

Monetary Incentive

A financial reward or penalty designed to encourage or discourage certain behaviors or actions within an economic framework.