Behavioral Economists Suggest That Brand Loyalty, Which Can Be a Source

question 203

Multiple Choice

Behavioral economists suggest that brand loyalty, which can be a source of monopoly power for the producer, may be explained by consumers' tendency to have the

• A)anchoring effect.
• B)mental accounting effect.
• C)status quo bias.
• D)confirmation bias.

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Definitions:

Vectors of Oppression

Dynamic forces that intersect and interact in complex ways to perpetuate inequality and social injustice in society.

Inequalities

Differences in wealth, resources, and power among individuals or groups, often resulting in social disadvantage.

Sexual Orientation

An enduring pattern of emotional, romantic, or sexual attractions to men, women, both genders, neither gender, or another gender.

Interactional Sociological Theories

These theories focus on understanding society through the analysis of social interactions and interpersonal relationships.