Examples of Products Such as Insurance, Cemetery Plots, and Smoke

question 10

Multiple Choice

Examples of products such as insurance, cemetery plots, and smoke detectors, are examples of ________ that are products that the consumer does not know about or does not normally think of buying.

• A) homogeneous shopping goods
• B) convenience goods
• C) unsought goods
• D) heterogeneous shopping goods
• E) specialty goods

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Definitions:

Perceived Inequity

A feeling of unfairness experienced when an individual perceives a disparity between their inputs and outputs compared to others in a similar situation.

Cafeteria Compensation Plan

A flexible employee benefits plan allowing employees to choose from a variety of pre-tax salary options and benefits.

Compensation Plans

Structured pay and benefits schemes designed to attract, retain, and motivate employees, often including salaries, bonuses, and other incentives.

Contingent Time Off

Leave from work that is granted based on specific conditions or occurrences, which may include emergencies, personal reasons, or meeting certain work performance criteria.