What Occurs When Consumers Remember Only Information That Supports Their

question 115

Multiple Choice

What occurs when consumers remember only information that supports their personal feelings or beliefs?

• A)selective reinforcement
• B)selective exposure
• C)selective retention
• D)selective distortion

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Definitions:

Highly Elastic

Describes a situation where the demand or supply of a product changes significantly in response to changes in price.

Excise Tax

A tax on the sale or consumption of specific goods or services, such as alcohol or gasoline.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Excise Tax

A tax levied on specific goods or services at the point of manufacture, purchase, or sale, distinct from general sales taxes.