Consumers Who Possess a High Need for Cognition

question 30

Multiple Choice

Consumers who possess a high need for cognition:

• A) find it hard to manage complex decisions on a daily basis.
• B) prefer to take shortcuts and rely on peripheral product information.
• C) purchase more products related to science and technology than their counterparts.
• D) enjoy thinking extensively about potential product purchases.

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Definitions:

Oligopoly Model

A market structure characterized by a small number of large firms that dominate the market, leading to limited competition and potentially collusive behavior.

Price Rigidity

The situation in which prices of goods and services do not adjust immediately to changes in supply and demand, often due to agreements, regulations, or market conditions.

Chronological Order

The arrangement of events, documents, or sequences in the order of their occurrence in time.

Case Reporters

Published volumes of court decisions from a specific jurisdiction or court.