The Three Stages in the Consumer Decision Making Process Are

question 28

Multiple Choice

The three stages in the consumer decision making process are ____________, ____________, and ____________.

• A)pre-awareness stage, pre-purchase, purchase stage
• B)pre-purchase stage, awareness stage, post-purchase stage
• C)service encounter stage, pre-purchase stage, post-purchase stage
• D)pre-purchase stage, awareness stage, purchase stage
• E)pre-purchase stage, service encounter stage, post-purchase stage

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Definitions:

Price Floor

A government or regulatory minimum price set above the equilibrium price, preventing market forces from reducing prices below that level, often applied to agricultural products.

Price Controls

Government-imposed limits on the prices charged for goods and services in a market, typically to curb inflation or protect consumers.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved or is not achievable.

Agricultural Market

A marketplace for the buying and selling of agricultural products, such as crops and livestock, often influenced by government policies.