Which of the Following Is an Example of the Snob

question 14

Multiple Choice

Which of the following is an example of the snob effect?

• A)The fewer consumers that buy the operating system,the fewer the applications that will be available.
• B)The more people that buy a luxury watch,the less value consumers put on the watch.
• C)The fewer ATMs available in the city,the fewer consumers want to join the network.
• D)None of the above.

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Definitions:

Usury Law

Legislation regulating the maximum interest rate that can be charged on a loan, to protect consumers from excessively high rates.

Minimum Wage Law

Legislation that sets the lowest hourly wage rate that an employer can legally pay its workers.

Gas Lines

Queues of vehicles waiting to fuel up, sometimes seen during periods of fuel shortages.

Price Ceilings

Government-imposed limits on how high a price can be charged for a product, service, or commodity, usually intended to protect consumers.