A Consumer Who Uses a Few Simple Decision Rules to Arrive

question 45

Multiple Choice

A consumer who uses a few simple decision rules to arrive at a purchase decision is using which of the following?

• A) routine decision making
• B) limited problem solving
• C) graduated response behavior
• D) extended problem solving

---

Definitions:

Gas Pump

A mechanical device at a fuel station used to dispense gasoline or diesel into the fuel tanks of vehicles.

Local Ordinance

Laws, rules, or regulations that are passed and enforced by a local government authority, applicable only within its jurisdiction.

Price of Gasoline

The amount of money charged for a unit of gasoline, influenced by factors such as crude oil prices, taxes, and demand.

Payoff Matrix

In game theory, it represents the potential outcomes of a game for each player given the different strategies each player can choose.