The Stated Price for a Particular Product May Act as an Attribute

question 28

Multiple Choice

The stated price for a particular product may act as an attribute and the knowledge may be used to form an attitude directing purchase behavior by comparing it to all of the following EXCEPT:

• A) dollar prices of other brands in a product class.
• B) other attributes of the brand.
• C) other attributes of other brands.
• D) other consumer costs.
• E) dollar prices of other brands in a different product class.

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Definitions:

Externality

An economic effect of a transaction that affects third parties who did not choose to be involved in the transaction.

Externality

An externality is a cost or benefit caused by a producer that is not financially incurred or received by that producer.

Market Exchange

The process through which goods, services, or assets are traded between buyers and sellers at a determined price.

Negative Externalities

Unintended and unfavourable outcomes of an activity or transaction that affect third-party stakeholders who did not choose to be involved in that activity.