Most Shoppers Believe That Walmart Has the Lowest Price on Every

question 58

Multiple Choice

Most shoppers believe that Walmart has the lowest price on every product it sells.This belief is a result of the message used in Walmart's advertising and the opinions expressed by its customers.Which of the following psychological factors is affecting the decision-making process of these customers?

• A)Their purchase situation
• B)Their ritual consumption
• C)Their culture
• D)Their peers
• E)Their attitude

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Definitions:

Federal Reserve

The Federal Reserve is the central banking system of the United States, responsible for setting monetary policy, regulating banks, and ensuring the stability of the financial system.

Monetary Policy

Economic policy laid down by the central bank involving management of money supply and interest rates to influence economic growth and stability.

Federal Reserve System

Central bank of the United States, whose main job is to control our rate of monetary growth.

Money Supply

The total amount of monetary assets available in an economy at any specific time.